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EU institutions and member States have recently proposed, and in some cases adopted, several legislative texts which directly affect the legal status of responsibilities and liability of online platforms. Such legislation covers a wide range of topics, including privacy, national security, audiovisual media services, and copyright, and raises relevant issues vis-a-vis the current liability exemption regime established in the so-called e-commerce Directive. Despite the fact that this regime formally remains untouched and valid, legislative changes are progressively eroding its main principles and showing a tendency towards transforming online intermediary platforms into private regulatory bodies (in terms of rule-making, interpretation, and enforcement). What are the risks of such tendency vis-a-vis freedom of expression? Which are the current debates in the EU on these matters? What is the impact of the case law of the European Court of Justice and the European Court of Human Rights?