That said this article glosses over the first amendment which absolutely needs to be considered because (at least in the United States) that is the big barrier to any sort of restriction.
Also the idea of what constitutes an ad. Billboards? What about large signs showing where a store is? Are people with big social media accounts allowed to tell us about their favorite products? Only if they don't get money? What if they get free products? We'll have financial audits I assume to make sure they aren't being sneaky. No more sponsored videos? What about listing the patreons that made the video possible?
How will this be sold to the people that need ads for their small business? We'll need a majority support to pass a constitutional amendment.
Anyway, this seems impossible but good luck!