That will be applied on US territory and if you are not coming from US or US citizen and then that's not a big problem for you to use the stable coin. It looks like the majority of stable coins will be banning US customer from their service.
I guess the exchange site will not also let the US citizens to use stable coins too. It will be giving a big impact to the US citizens.
It is very true, it will only apply to the people of US, but of course it will also have a big effect if it is true that they will implement strict regulations on USDT. But considering the large number of US users, maybe there will be an adjustment to the regulation? I'm not really sure about that