In my opinion, it would be best to regulate the browsers themselves... preinstalled browser on a device sold in EU? Cookies are silently stored to a temporary jar, deleted on tab/window close. One jar per domain. Then add a button by the address bar to enable the "I want this site to remember me", and it'll make the cookies from that domain 'permanent' (with an additonal 'advanced' setting if you want to allow 3rd party cookies too or not).
But hey, when the regulators are lawyers who have no idea what cookies and browser are, we get consent forms on every domain visit.