Regulating the cloud crowd

Why should governments wait to follow the European Commission´s lead before legislating for cloud computing services within their national boundaries? And what binding rules apply anyway? It is a law among emerging technologies that is almost as immutable as Moore´s Law itself: formal legislation around a technology will necessarily lag x years behind. For the period of x, the regulatory environment for the given technology will appear woefully inadequate to dispassionate observers. So it goes with the burgeoning cloud-computing services market.