[kevkrom]

Stallman intends to change the license on that software from GPLv2 to GPLv3. Linus predicts that this will fork these projects - with many of the key developers on them continuing to work on the GPLv2 licensed variants. The Linux kernel has its copyright held by the 100's of original authors (including my employers copyright on some code I wrote.) There is no practical way that the license on that software could be changed, without great effort to get the agreement of many companies and people. And the current key maintainers, starting from Linus on down, are publically committed to keeping the GPLv2 license on the Linux kernel. So, unlike the FSF copyright software, such as compilers and utilities, the Linux kernel will without doubt continue under its current GPLv2 license.

And, just to point out the obvious, it is impossible to retroactively change a license, so anyone with software using an existing GPLv2 license can continue to use and develop it just like today.

[ThePythonicCow]

it is impossible to retroactively change a license

Whomever holds the copyright can reissue the code under a different license. Whomever has some rights to the code under an existing license doesn't loose those rights.

So yes, holders of FSF copyright software can continue to use and develop and share that software under the GPLv2 terms.