If you are engaging in what is undeniably a business relationship (money/goods/services/written agreements/etc.) with people who are in a country, then it doesn't matter where you are; you can quite easily end up subject to the laws of that country. This is not a new idea. This is not a scary idea.
bodog got their domain seized because they thought they could engage in that sort of relationship with US customers despite offering services which were illegal in the US. This is downright mundane, and the amount of ignorant hyperbolic OMG FASCIST IMPERIALIST JACKBOOTED THUGS TRAMPLING ALL OVER ME hysteria it's generated frankly disgusts me.