There must be 100 different religions, or more. How can any Government possibly allow a rule like "Blaspheme" stand? The Freedom of Religion, cannot mean, the combined sum of laws religious and otherwise. Writing too many laws protecting religion can bridge a gap between church and state, or worse, make all religious law enforcable. Don't think that the problem is only Moslems, Buddhists, Christians. But, remember it does include the Wiccans, Satanists, and anything can be labeled Blaspheme, because as a whole the word is undefined and could mean anything.
http://www.bartleby.com/61/39/B0313900.html
The Etymology of the word will make it clearer. It's just a word that has laid open to definition for thousands of years. Supposedly, Jesus Christ, committed Blasphemy....
We can't wimp out. Because, if we do over a stinking cartoon, or live in fear of protests that are not allowing us to do anything but obey Islamic law, then you'll wind up finding out in the end it will be against the law to worship any other God.