The biggest change relates to Valve now selling hardware in the European Union (EU), specifically the Steam Controller and Link. Going forward, our hardware distribution in Europe will be the primary responsibility of our Luxembourg subsidiary, known as Valve SARL. Meanwhile digital content and services in Europe move back under our US company, Valve Corp., just as they were before the Luxembourg office opened in July 2012.
In practice, this changes nothing for our European customers. We will continue to operate with respect to relevant European laws, such as local data and consumer protection, and we'll continue to provide the same services we have for years.
Those who simply want to keep playing their games and are not making a purchase at this time are free to simply ignore the SSA update for now. It only takes effect for users who explicitly confirm it, usually during a new purchase.