Cryptocurreny world definitely needs a regulation. Today many people are introduced to bitcoin and altcoins hoping to profit some gains looking at the rising charts and news. However most of them lose their money because of investing scam altcoins, or panic trading.
Chinese ICO regulation attempt is the first step of this change. I am sure other countries will follow and will not let the cryptocurrencies do what ever they want.
This may make volatility in pricing, and this will be a reason for an upcoming correction. However, these regulations may help cryptocurrencies to be mainstream.
Do not you think that excessive desire of the state to regulate, may adversely affect the very idea of cryptocurrency as an independent financial instrument for all mankind. As always happens, the state will enter to help, and then what will remain there to rule and to take all completeness of the power.