The part that says: "notwithstanding any other provision of this chapter, the Attorney General may implement this subsection with regulations."
Literally read, that means "No matter what any other provision of this chapter says, the Attorney General may create regulations to enforce this subsection." There is case law where courts have construed "notwithstanding" language so broadly as to allow the authorized officer to violate other parts of the law in order to "implement regulation.". Most importantly, the D.C. Circuit, which is often a shortcut to SCOTUS takes a view along those lines.
I would certainly hope that is a case we would win; but I tend to think that is a case we would end up having to fight eventually. All the AG would need is some reason why a "database" was necessary to "implement the regulation.". And realistically, the damage would be done long before we ever got a result through the court system. I also have serious doubts the 15 year penalty means anything. Selling guns to Mexican drug cartels in the thousands is a felony already - nobody from DOJ is being indicted over that.