i do not see it, as a positive news at all. basically, it means: if they can't kill it, then they try to enslave it.
the only positive thing could be: the amount what users keep on the exchanges are protected. However, we already know it, since long decades, these trendy words, laws (like the Anti-money laundering crap) doesn't work at all regarding banks, govs, big corps (they make the laws, and obviously not against themselves), useful for the top players vs. the people, the masses. Only the small guy cant do it legally.
anyway, it is killing all the main points in crypto, blockchain. they want to turn crypto into CBDC, and ban those what they can't. i see that all around the world. The must KYC is a ..., it is not printed paper out of thin air... NEVER USE ANY EXCHANGE WITH KYC!!!!!!!!
i have no idea, how is it in my country. dont follow the 'news' at all. they argue vs that in msm, that's sure, but next to that they do things like this (the last funny one, what i read 1-2 years ago):
A gov burocrath setup a bitcoin miner in a townhall for the free electricity and it burnt down in a weekend... :) :) :) of course, that was the 'news'... without consequences reported...