SEO spam is nothing that needs to be regulated. Being on some search engine result page is a very private deal between google and whoever owns the site that gets ranked. You accept that google can rank your site whichever way they want and they do just that. If you go overboard they boot you. Thats a prime example of something where the government doesnt need to be involved at all. Its a very private issue. Google has built in mechanisms which you can use should you decide that you dont want to rank and thats it.
If google breaks some law in the process you can sue them, they pay a tiny amount that they hardly care about, take your name off the list of people they want to rank and that is again all there is to it. No regulation necessary. Stop calling for regulation. On one hand you guys are up ron pauls ass, on the other hand you want stuff being regulated.
On the other hand, if some site explicitly states that CAPTCHAs are used to prevented automated access to a page, they should be entitled to that in some way. After all its their property. Just like you should be able to decide who enters your house and who doesnt. And its not always about putting people in jail for prolonged periods of time. Stuff that revolves around TOS is usually just subject to common law and ends up with people paying for damages caused.