Not all regulation is automatically bad.
Please name some regulation that isn't bad. But before you tell me what it is, ask yourself if there isn't already some law to deal with the situation already in place. It's harder than it sounds.
Nothing in that law is remotely needed. There are already laws against fraud.
If the point is to prevent scams/fraud, well, how about start by enforcing existing laws against criminal organizations that are guilty of fraud?
However, I'm thinking about this all logically. Programming has that affect on you. e.g. If there's a method to handle A, then use it and don't create another method.
We don't need lawyers and politicians creating more laws. We need programmers, coders, system architects, information architects, etc., working to destroy as many laws as possible. What we want is something neat, clean, and easy to use.
What do you think the law would look like if it were an API/SDK?