I do not enjoy engaging in the rhetoric required of me here. I have said before that I find this content disgusting, morally degraded, and above all else an indictment on the individual who consumes it.
As it stands, it is not a rule violation. It is my opinion that it should be, given (as we have pointed out in the past) that we can have users as young as 13 on this site. Moral implications aside, one does not reckon that allowing this sort of behavior to be conducive to creating a teen-friendly environment. If it were up for discussion, I would make it known now where my vote would lie. I find it detestable.
All of that said: I am aware that loli content is not inherently illegal (in the United States, as those are the laws being cited), although it may be depending on context. There is unfortunate nuance to the situation, including confirmed ages of characters (as the US has no law against a character who looks 14 but is actually a 2000 year old vampire), the presence and severity of sexual acts, etc. The reality of the situation is that most loli content (insofar as I am aware) would not be illegal within the United States, although it most certainly treads uncomfortable lines. It is similarly not currently against our rules, so we will not be punishing Dei.