Every country trying to regulate crypto and force exchanges to comply with rules is one of the best thing that can happen to crypto world.
It means they acknowledge the existence of crypto.
Yes in the short term this will make crypto market very spiky, but in the future this will bring in a lot of new investors and especially big investment companies.
All those bankers who say that Bitcoin will fail can suck it

I'm very excited too because here in my country... they legitimately began acknowledging Bitcoin. They actually started last year or last-last year

if I'm not mistaken. I hope that eventually they'll do it to all of the currencies too. I'm curious about how they'll manage it ...plus the, fees/taxes, limits, and something like that. I can't help but think what actions are they going to do in the future. I am just hoping for the best -for crypto's future... that positive things will happen continuously.