But again, it's not just a technical issue. It's cost and functionality and compliance and legal requirements, too.
Also, eff no, it IS complicated. And expensive. You're handwaving a ton of stuff there, it's not just some Oracle DB.
And again, you're not saying "can we do it", you're saying "can we make it mandatory to do it for everything?"
At this point you have to go back to the big blurb you didn't read or the video you didn't watch. It's the specifics of what you need to do. At scale. For every live game, so like 80% of the mobile industry, a decent chunk of console and PC.
And each of those has a litany of technical, legal and financial requirements, each different from each other, by design.
You can't just write into a law that it needs to happen and have it magically materialize. That's not how this is going to work, even if the inititative succeeded.