Pretty much this. There have been some that have been able to skirt round the edges of regulation, and some users who have been able to use accounts without completing KYC, but even then your privacy is poor at best. Laws like the one being discussed here will put an end to all that, though. It's full privacy invasion or nothing now.

The best time to stop using centralized exchanges was 10 years ago. The second best time is now.

I can only speak for myself, but I have never once wanted more regulations, more laws, more authority involvement, etc., for bitcoin. I despite the mentality of "regulations are good because it means we are being accepted" and other such nonsense. As DooMAD eloquently put it, getting away from centralized control is kind of the whole point of what we are doing here.