The problem with this kind of legislation is that it is unsustainable. The complexity and rate of emergence of digital markets will easily outstrip the governments ability to regulate them over the coming years. Of course, (slow) regulation like this will be disregarded by the community and progress will continue. It's possible that the rate of growth and profitability inherent to these markets will enable the market-builders to re-write government before government can write software to enable effective regulation.