It violates free speech. Finland is making a big mistake... BIG mistake. As is anyone who tries to regulate free speech like that.

Islam does not function well with other religions, because Islam is basically hostile to other religions. There is really no making them happy unless you completely cater to their religion. But that cannot be done, in the US that would violate the establishment clause of the 1st amendment. Furthermore, what is blasphemous for one religion is another religion's creed. How can we even begin to regulate that? We can't.