Can you provide any proof that "regulatory doesn't work"?
Might be my European outlook, but consumer law has been stupidly effective at curbing abuses from companies here and was much more effective than playing the technology race USA is trying to fight. There's always a next side-step, the next abuse a company can invent - and you keep trying to push the responsibility of avoiding it to users (by adding more and more onerous technology) instead of punishing the abusers.
Might be my European outlook, but consumer law has been stupidly effective at curbing abuses from companies here and was much more effective than playing the technology race USA is trying to fight. There's always a next side-step, the next abuse a company can invent - and you keep trying to push the responsibility of avoiding it to users (by adding more and more onerous technology) instead of punishing the abusers.