It's been 10+ years of these companies and no meaningful oversight has been exerted, at least not on behalf of users. Not after:
1. Self-admitted election interference https://www.vox.com/2017/4/28/15476142/facebook-report-trump...
2. Tracking and targeting individuals' political speech in the US https://www.theverge.com/2019/8/31/20837448/social-media-dhs...
3. Tracking and targeting individuals' political speech in autocratic nations: https://www.npr.org/2019/11/07/777352750/how-saudi-arabia-us...
4. Paid to suggest pro-CCP propaganda! https://www.nytimes.com/2017/11/08/technology/china-facebook...
You mean what's happening everyday on Facebook and Twitter often being instigated by Chinese and Russian actors?
[1]https://www.theatlantic.com/ideas/archive/2018/07/the-us-has...
Sure, and I totally understand if those other countries decide to take steps to prevent that interference from happening. It is perfectly reasonable for them to want to do so, just like it is for the US.