Right on. There will inevitably be more regulation than has been the case so far, so Xapo and every other crypto-facing company will need to think for itself what it views as being too taxing or as acceptable. These should also try to help shape the debate when it comes to deliberating changes and discussing options publicly.

Hopefully, Xapo and others will soon have a successful regulation situation, one where they can agree to work with authorities and establish a precedent for complying with reasonable rules.