Yeah, it's some serious BS. They are forcing you to hand over and trust Reddit with your personal information, yet I wouldn't trust them if my life depended on it.
At the very least, someone in charge of this legisltion should learn OAuth2 and force the sites they want to comply by only let those OAuth2 accounts access their adult content. If I was in the UK, I'd just pay for a VPN over giving my photo to Reddit. That site is a lobby brigade hellhole whose "we know your dark secrets, we know everything" owner is also probably trading your account details on the side.
I'm not one to encourage reddit, but its TrumpCriticizesTrump subreddit has basically been this since 2017.