I don't know what regulations you're talking about when it comes to books, in America at least. I'm against a lot of the FCC regulations on TV and radio because they're largely based on pushing puritanical morals about swearing and sex. Publishers having standards for what they're willing to publish as a book isn't the same thing.It needs to be regulated, or shut down until people figure out how to regulate it. People already solved some of the problems about how to regulate books, radio, TV, etc, we have tons of laws for this stuff. You don't see it because all this was done years and years before you were born, but pretty much all media has been subjected to regulations of some form or another when people and governments have gauged their effects on society and determined they were harmful. Sometimes they go too far in trying to clamp down on it (Nazi book burnings), sometimes they don't go far enough (Daughters of the Confederacy, the reason "Confederate pride" exists today). Social media, in my view, is a case where "governments aren't doing enough".
Why does that matter? The only question that's important to me is: is the good stuff worth the bad stuff?
If social media is leading to violent attacks on refugees, a society must ask "is it worth keeping Facebook around if it's being used to inflame violence against vulnerable groups?" I feel like you've never considered this question, either because you never asked yourself "is it all worth it" or because you know what the "moral" answer is already and you don't like it.
I don't know how you can think the government isn't doing enough with social media unless you also think they aren't doing enough with the internet overall. Should each government in the world be snooping into Resetera too to make sure people aren't spreading the kind of ideas they think shouldn't be spread?