"The reports also state that the FSS will crack down on cryptocurrency exchanges by banning margin trading and stepping up enforcement of anti-money laundering (AML/KYC) regulations."
They are shutting down Korean exchange. We are doomed.
But banning margin trading and implementing strong AML/LYC policy doesn't mean they are just shutting down crypto exchanges.
Like predicted many other countries are also following Chinese trend, crypto might get into bearish trend now for considerably long time.
Yes, this is a good thing and not a bad thing.
Unregulated exchanges will cause more harm to cryptocurrencies in the long term than ones that are "common sense" regulated. Keeping money launders and criminals out of exchanges is not a bad thing. Also margin trading is little more than gambling with some of those sites that offer 100x margins, again there is plenty of money to be made in crypto without margin and this only serves to protect the more "mom and pop" type investor, which again is not a bad thing.
I think governments that are allowing crypto trading and are only applying regulations with a light tough will only help fuel its growth.