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Encrypted data is more like speech than a weapon. The analogy to guns just doesn't work.

The US Govt considers encryption a form of weapons tech so that it falls under Munitions Exports Controls (see https://en.wikipedia.org/wiki/Export_of_cryptography_from_th...). But the proposed law doesn't outlaw private use of encryption, only potentially outlawing corporations from offering it, so I don't know the 2nd Amendment would really apply.

If encryption is considered a form of arms, it does appear that there is case law that grants sellers of arms some constitutional protections - quick article at https://harvardlawreview.org/2014/04/does-the-second-amendme....

I think, at this point, one could successfully argue that the proposed law follows 'reasonable regulation' and so protections aren't afforded. But it would be an interesting discussion.

The US courts seem to agree that encryption software are protected under the 1st amendment. See https://en.wikipedia.org/wiki/Bernstein_v._United_States

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