I think sooner than later all countries will start regulating crypto market and only few countries (Switzerland) will stay relatively free. Eventually, only decentralised exchanges will survive. Noone can close them.
I agree about the exchanges, but the main issue is the new ICOs right? Chinese government attempts to control ICOs which are more important than trading itself. If the project can't make successful ICO than it won't be on any exchanges at all. It won't fly, as they say.