I wouldn’t expect any regulation or laws to slow it down at this point. You might get the U.S. to crack down on it and stop innovation, GPL or proprietary license holders might win a lawsuit, etc.
But I suspect the net effect would be to push research and innovation out of the jurisdiction that made that decision and into another that isn’t willing to kill LLMs in their economy.
Personally, after seeing what LLMs can do first hand, I’d likely move jurisdictions if the U.S. cracked down on AI progress. There is a not-0 chance that putting bread on my table in 10 years requires it.