Flawless reasoning the logical consequence of which is that everything in the world should be regulated. Toenails should be trimmed regularly already, so why not extend this to priceless Ming vases?
“The European mind has been moulded to respond positively when the topic of regulation is discussed” is just as dumb an ad hominem and furthers the discussion just as much.
This post reads as "I don't want to pay tax but I want less potholes in the roads".
Rather than only thinking about "regulation" you DON'T like, also acknowledge how regulation vastly improves your life.
The meal you eat today is unlikely to kill you by the morning.
Your car is unlikely to fall apart as you drive down the road at 100 mph.
The medication you may be prescribed has been tested and certified as safe before it it prescribed to you.
If your neighbor burns down your house you have legal redress.
Teachers are not allowed to beat children.
All of these benefits come to you through regulation.
The argument is NOT "regulation or no regulation". The argument is, "how do we format regulation to maximize its benefits while minimizing its negative consequences."
Doing nothing will achieve nothing. And claiming that there are no negative effects from social media is very much a case of deliberately burying your head in the sand.
You might not care about it now, but when it does negatively affect someone you care about, then you will care about it. And prevention is far better than treating an already severe disorder.
Any regulation of social media won't have much of a significant affect on adults now, or even on teenagers now, but it will have a positive affect on future generations.
The clampdown on smoking is a good analogy for this. The positive effect of strict smoking bans in public places, offices, restaurants etc denormalized smoking, and it was the generation(s) after the ban that benefited the most.