On an individual basis,  I would say it might be difficult to regulate but when it comes to using it to get basic things from stores, then its very much possible and the reason is because  businesses registered with government in which they must comply with the rules and regulations of the land and of they fail, its either government gets the information by force or force them out of business. So, in the process of buying, you might be forced to release some details about you which would in turn be forwarded to government agencies. So regulations starts from there.