Uh? This is already how the world works. It does not matter where you are located as long are you are transacting with EU citizens.
In extreme cases of non-compliance, avenues for enforcement that have been discussed reuse existing Anti Money Laundering mechanisms: once flagged in the system, banks will simply freeze your business assets connected to EU countries and you might be arrested upon crossing any EU border.
In extreme cases of non-compliance, avenues for enforcement that have been discussed reuse existing Anti Money Laundering mechanisms: once flagged in the system, banks will simply freeze your business assets connected to EU countries and you might be arrested upon crossing any EU border.