You simply can't regulate this market, it's global and anonnymous, you don't know who is mining and where he is.
You could by having a large group of miners collude (ignoring your blocks). It will be observable, it will destroy trust, it could happen.
[edit] One should never forget that the rules governing bitcoin are just program code being executed on many machines. Code that can be changed.
We as participants decide what version we trust, which rules we accept. I would not put it into the realm of the impossible that by law states would try to prevent individuals from mining.
We also know that this thing is like a hydra. Try to behead it and see what you get
