We live in a world where screens have taken over. Our children's are showing early sign of anxiety, depression, eye issues , wearing glasses at young age because of being exposed to screens for long time.

I have a problem with this paragraph. You present this as fact and I don't think it is. Anxiety and depression are not caused by screens. More known cases can also be attributed to people caring about this more than ever. More kids with glasses may be more due to improvements in medical care. We've been getting more short sighted as a species ever since looking out for the sabertooth tiger wasn't a survival issue any more. If you want to get people onboard the arguments need to work and these don't do it for me. 80s kids didn't get squared eyes from watching too much TV, 90s kids didn't all turn into homicidal maniacs due to video games - this strikes me as arguments along the same oversimplified lines.

I'm not opposed to regulating screen time for children. What I don't think works is a government mandated restriction. How would you even enforce that within a family home? An unintended side effect will be the need to ID every user, taking away the opportunity to use the web anonymously, and risking the leak of personalized information from giant data bases. The risks outweigh the usefulness for me.