The proposed Digital Services Act (DSA) aims to reconcile the responsibilities of online platforms with their position as key intermediaries and essential sources and shapers of information. The DSA proposes new, asymmetric obligations, while maintaining the liability exemption for hosting providers. This article aims to provide an overview of the tiered obligations and to critically evaluate the regulatory approach of the DSA. The article calls into question whether the liability exemption based on playing a passive, neutral role reflects the extensive moderation that online platforms undertake as part of their business model. It considers the consequences of taking the responsibility of online platforms out of the domain of liability and into the domain of regulation and suggests alternative approaches to the liability regime