Section 230 is not such a law. It creates a civil liability shield for interactive computer services and states who that applies to and how it is to be used. There is nothing in it for the Executive to execute. It is only executed when someone raises it as a defense in a court case, and it is the judiciary that decide what it means.
The FCC can interpret it all they want, but that interpretation will be at best persuasive authority in any court case involving the application of 230.