Most likely in the US, it will be challenges in the courts on the concept that it’s banning certain computation and those implications.

It will also probably be challenges by individual states against federal government over reach.

You may have a case where states (following NY, fiat capital of the world) will either ban or allow it.

The EU is an authoritarian Larp with Western European manners, they will ban what they want and disguise it for some cause of the week.