It's not reasonable to regulate stuff before it gets developed. Regulation means establishing some limits and controls on something, which can't be reasonably defined before that "something" even exists, much less tested or decided whether the regulation has whatever desired effects it intends.

For what is worth, a "theoretical regulation" already exists: it's the Asimov's Rules of Robotics. Turns out current AIs are not robots, and that regulation is nonsense when applied to stable diffusion or LLMs.