However, to be truly effective, yes they would have to ban other forms on encryption - this obvious inference was totally ignored in all news I read or saw of the clipper chip in the 90s. A sad illustration of the prevalent shallowness in mainstream tech reporting.
Same thing here, if the US has a backdoor into https/ssh, then the Eu will also want one, and Russia, and China, and India and the middle east. How long is your online shopping going to be secure when Nigeria or Somalia has the official government backdoor into your bank login.
SO we can thank Amazon/Visa/Apple for quashing this one.
Not that this will ever pass as a law.
Of course, if there is a back door in all encryption between, say, businesses or minority political groups or anyone else who has legitimate reason to encrypt stuff, 1) there's the chance (very likely) that others will discover the back door, and 2) the government (or some of their employees) will probably abuse it at some point.
See, the whole point of encryption is to make your communications SAFE and eliminate these sorts of unknowns. It's a legitimate need, and just because it can be misused doesn't mean it shouldn't exist.
You did log the key for that https session when you used amazon checkout didn't you?