If this manages to become law, how would this impact open source crypto? Which company would hold the responsibility of compliance? The project sponsors, code repo hosts, or other?
That is the real question. My guess is that there will soon be a push to make open source crypto somehow illegal (if we're following the logic at this point) similar to the way that open source 3D printed firearms are treated.
It will be handled that way until the process makes its way through the courts.