I simply don't understand how or why a law that has scope in the EU is causing trouble for companies which conduct no business in the EU beyond responding to HTTP requests on a global decentralized telecommunications network. Why would an American internet business which conducts no operations in Europe and has no servers in Europe be subject to regulation that affects the EU? What is going to happen? Is the EU going…
Read up on FATCA ( https://en.m.wikipedia.org/wiki/Foreign_Account_Tax_Complian... ) before you argue further down that path. The US already has extraterritorial laws that have to be enforced by banks worldwide that don’t operate in the US.
Note that a common response by foreign banks to FATCA is to refuse to do business with Americans, which is very likely the best course of action. So it shouldn't be surprising when companies take similar precautions because of GDPR.