LFGSS and Microcosm shutting down 16th March 2025 (the day before the Online Safety Act is enforced)
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they could do but it would be impractical, no-one would comply and it would not absolve them of their own responsibilities to comply.
more likely they will just say "don't use our service to do illegal stuff or other stuff which is contrary to the online safety bill and other applicable laws and regulations etc."
Yahoo are the service provider in this example, so they are the ones subject to OfCom regulation
Your part is to abide by Yahoo's t&cs.