Long story short: Obviously, the world would be a better place if anyone who thinks you are violating copyright can demand that your site be taken down and payment processors stop processing any payments for you whatsoever. What if they were wrong? No worries! The law protects them from any penalty for allegedly “mistaken” use of this, which of course includes purely malicious use followed by lying.
The upside? None. This does not solve an actual problem which needs to be solved. It does not make anyone, or anything, safer. It just tries to eliminate the major virtues of the Internet.