alt Hacker NewsUSA claiming global jurisdiction over internet copyright matters goes back a long way. The case that "radicalized" me was https://en.wikipedia.org/wiki/United_States_v._Elcom_Ltd. , which was 25 years ago!
The other such case establishing global financial jurisdiction, often cited by cryptocurrency adopters, is https://en.wikipedia.org/wiki/United_States_v._Scheinberg - "Pokerstars".
It's wild to read "the U.S. Congress passed UIGEA to extend existing gambling laws into cyberspace. The law made processing payments for online gambling a crime" in the light of how prevalent online gambling is now in the US mainstream, with sports betting, Kalshi, Polymarket and so on.
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The laws of the US have always been crafted to protect the interests of the elite, not the industrious.
This isn't a unique USA thing. Many countries will allow lawsuits against international entities if you can demonstrate harm within the jurisdiction.
Practically speaking it doesn't matter much when small countries do this because it doesn't mean much, other than maybe the owners of the country can't travel there any more. It hits headlines when the USA does it because being barred from traveling to the USA or working with US companies causes a lot of problems.