I'm sure a country like the US, which is filled with lawyers, can come up with a couple laws, and find some goons to enforce it, that cannot possibly be that hard when other countries can figure it out too.
The AI industry is built on mass piracy and copyright violations, regulation isn't going to make it go away or even comply any time soon.
We have laws banning technology that can be used to produce generative images of someone that look like them with their clothes off. The result wasn't fixing generative AI (we don't know how to actually control that kind of thing because it's almost impossible to manually tweak a machine learning model), but to add a bunch of input and output filters that'll pass the test for most regulators checking compliance.
If companies control the government, then that's not a government, that's a group of companies.
As far as I can see as of now, there is no "realistic" way out. It's a problem of human nature... People are corrupt, people with authority are more corrupt, and people with money and authority, even more. Come intelligent and cheaply mass-produceable robots, and we'll have a new, 4th level spinup too that will be worse than the first 3, combined.
Another possibility is that, once AI exceeds human performance in all economically useful activities, including high-level planning, governance, law enforcement, and military actions, it discovers that the benefits of keeping humans around aren't worth the costs and risks.
I find the technical discussion more interesting and could do without some of the moral grandstanding in the comments.