You could say the same about normal computers. Where are our regulations on Kali Linux, to prevent people from bruteforcing weak WPA passwords?
The single most-pressing concern with AI is that it can accelerate the process of hacking things. This is a preexisting problem that is inherent to software and needs proper addressing. Even if we regulate open weights tomorrow, people still have uncensored GLM-5 finetunes doing whatever they want on their own hardware. The "what if" of capable open models is here today, there are no guardrails.