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New York bans “addictive feeds” for teens
(www.theverge.com)
This is a most excellent place for technology news and articles.
For scenario one, they totally need to delete the data used for age verification after they collect it according to the law (unless another law says they have to keep it) and you can trust every company to follow the law.
For scenario two, that's where the age verification requirements of the law come in.
You've never heard of kids getting fake IDs?
This law doesn't stipulate how services prove age (at least according to the article), and if kids want something, they'll find a way to get it.