I don't think I even need to list counter-examples to falsify this statement. Sure, we all remember examples of bureaucracy gone wrong, and get amnesia when we step onto an airplane.
As to the topic at hand, I dunno, a mostly-unregulated industry as it is now has such egregious examples that I'd be willing to see how this goes.
Everyone here seems to forget that we regulate these industries so finely because they are in a uniquely dangerous position to harm people, and act as if this is a blanket statement that's true for any kind of software development. This is most definitely not true, and we should think hard and long before regulating a thriving industry out of the world in order to feel superior to all those rubes over there obviously doing it wrong.
Regulation is a necessary evil, not a positive good in itself.
This will just kill innovation and startups in the EU. It's already a nightmare of bureaucracy for taxes and permits, etc.