However, the maliciousness that the EU is proposing to go after any company, whether they operate in the EU or not, is going to break things in ways they have not thought of.
So regardless of how long ago it came out (and trust me, 2 years is nothing for dealing with something like this), it still wasn’t well thought thru.
For what it’s worth, this law affects my company, as we have clients that are EU citizens. But only those that live in the US with a social security number. (I work in finance). My company has one office with just a few people. I never heard about GDPR until earlier this year. So my question is what happens if someone files a GDPR issue with my company? My clients information is available all over the world via login to our staff. We travel to various places. So what happens now? Some law in a place I’ve not been in a decade (exempting EU-controlled islands in the Caribbean) has just put my company in a strange legal position. Am I going to spend tens of thousands of dollars with lawyers and consultants to figure it out? No. Why? Because it would put me out of business. Plus, as a financial company, I have a requirement for saving information for 7 years. All data? Hard to say, as the IS law leaves that discretion to my company (as it should be).
So this law was horribly thought thru. I’ll probably get downvotes for this, but wait a couple years and see how crazy fines affect companies large and small for innocent issues, and I’ll be proven right.