Even if you are not in the EU, this will affect you. Some countries really like to copy such regulations from others. Once services starts complying, other governments will go like "if you did for them, you can do it for us, right? so it's not technically impossible", and things only get worse from there. Not all services will simply block the EU as well, which would be better to send a stronger message if approved.
I really fear where this is headed.