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Chat Control 2.0: EU governments set to approve the end of private messaging and secure encryption
(www.patrick-breyer.de)
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The law restricts providing a commercial service in the EU that provides end-to-end encryption without monitoring of the content of communications, not using end-to-end encryption. Unless you're planning to run some kind of underground messaging service, you probably won't be the one violating the law.
What is to stop a company from offering their services in the EU though? As long as they don't legally cooperate with the EU it should be fine. Like Telegram operating from Russia (if they weren't collaborators already).