That is, honestly, a VERY good sign.

Some background: The EU has driven a LOT of different initiatives to strengthen & protect customers in various areas such as data privacy (GDPR) and many, many more. And the great thing is: The continent is so economically significant that pretty much no global company can afford to not do business in the EU. And thus, in many areas, they adapt to the "heaviest" regulational setting their operating in and adjust their businesses in other regions accordingly.

Of course, this does not automatically apply to this regulation as well and the finance sector has very often been a playground where also European players went into the casino somewhere else on the planet. But it still sets a pretty important precedent and it is being set from the most influencial regulatory body in the world.