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The US as a ban on banks to do business with Iran. This also affect bank that are not US-based but do business with US (see [1]). The banks are free to do busin
by maeln 8y ago
The US as a ban on banks to do business with Iran. This also affect bank that are not US-based but do business with US (see [1]).
The banks are free to do business with Iran, but they will then get ban from doing business in the US.
The GDPR is exactly the same. EU says that you have to comply with the GDPR if you process EU-citizen data. So company have the same choice: Comply with the EU GDPR or don't do business with the EU. I don't think it happen yet, and I think that the framework for this is not even ready yet, but nothing would prevent EU from banning your service in the EU if you don't want to comply with the EU GDPR.
I honestly don't understand why there is such an outcry about it. It always worked like this: you want to do business with a country, you apply the law of the country. Internet is not a magical international space with no regulation.
You can argue that this kind of laws, that is a form of protectionism in a way, is bad. But it has been this way for a very long time and GDPR is absolutely not the first time such a law was put in place.
Just another example, if you are a US citizen creating a bank account in the EU, the bank (even if it is a EU bank), will have to declare it to US authorities (apparently due to your tax system that also apply if you are resident abroad).
[1] https://en.wikipedia.org/wiki/United_States_sanctions_against_Iran#Sanctions_against_third_parties https://en.wikipedia.org/wiki/United_States_sanctions_agains...