Generally speaking, I would not say it is good but this is definitely much, much better compared to the total ban effected by China in their jurisdiction. We have to compromise because it can not be denied that the sovereign power of the state resides in the government and so anytime they can just closed the market and just tell all operators to stop doing business with Bitcoin and other cryptocurrencies in the market. Regulations can even be working good for Bitcoin all because we have to protect the consumers from possible scam artists (and they are present in any industry without exemption). All we ask is that the government planning to pass regulations should consult with the people to be affected by legal procedures so that growth of cryptocurrency will not be affected.