All I see is more interoperability, fairer competition, more consumer rights, etc. If you are against this sort of regulation and a rational being, I envy you because you must either be oligarch-level rich, or in a happy bubble disconnected from world-affecting current events.
Why shouldn't our sovereign government control things as they please? That's the whole point of sovereignty - people elect government, government makes rules.
Democratically elected governments should have no say as to how many billions of dollars of market activity tech oligarchs are entitled to capture and redirect towards their very noble goal of winning the competition to see who can build the biggest yacht.
And, of course, building bunkers for when enough of the general population eventually catches onto and gets tired of the grift...
You can control what ENTERS your borders, not what happens outside of them. You are free to cut the cables, but not to dictate to those outside your house how to live on the other end of those cables. Else we'll all be living under the union of the rules of everyone. You sure you want that? Iran bans a lot of things you might like, as does china, and russia, and usa.
As soon as you send that data into my country, it is happening inside my borders.
You can buy magic mushrooms semi legally in the Netherlands. Doesn't mean you won't get in trouble if you send them from the Netherlands to another country.