Social media platforms play a crucial role in supporting freedom of expression in today's digital societies. Platforms can empower groups that have previously been silenced. However, platforms also host hateful and illegal content, often targeted at minorities, and content is prone to being unfairly censored by algorithmically biased moderation systems. This report analyzes the current environment of content moderation, particularly bringing to light negative effects for the LGBTIQA+ community, and provides policy recommendations for the forthcoming negotiations on the EU Digital Services Act.