Yes! To a first approximation, my government doesn't have the power to put you in jail for, say, hacking into a local server in your hometown. (Yours doesn't have that power over me, either.)

So (again to a first approximation) the files that my government collects on you are only available to be used in cases with some sort of international significance. (And the same with the files that your government collects on me.) I see a vast difference between that situation and the situation where a local cop can casually dig through these vast databases to find out if I've ever been associated with anything at all potentially illegal.