No, it places requirements on all bankers worldwide regardless of whether they have any presence in the USA. This is enforced requiring compliance from all US b

No, it places requirements on all bankers worldwide regardless of whether they have any presence in the USA. This is enforced requiring compliance from all US banks, and then by making any bank that comes into compliance sever relationships with any peered bank that isn't in compliance, so via a sort of recursive graph walk it brings every bank globally under US law because every bank is ultimately connected to some US bank somewhere.