If they indeed continue to be restrictive when it comes to crypto, what do you think could be the consequences especially when a lot of other countries are openly embracing bitcoin? Do you think that EU is doing the right thing or will they just go back on their words after seeing other countries get ahead with bitcoin?
It's a global tendency that countries become more strict on their regulations towards Bitcoin and cryptocurrencies in general. What is going to happen as consequence is just that businesses (exchanges) and investors are going to accomplish with their requirements in order to continue operating with Bitcoin in a legal way.
Of course adopters can always keep their coins stored at hardware wallets, safe and distant from authorities' eyes, but inevitably at some point those coins will have to be exchanged into fiat currency, so they can be spent. And once holders have to do this, they will have to follow the legal procedure, like everyone else, because they need the centralized exchange to do so, while the exchange also needs to accomplish with the legal demands to exist and operate.
In my opinion it's quite annoying and frustrating, especially when compared to the early years of this industry... But my opinion means nothing on the bigger picture. Regulators, politicians and bureaucrats have the power to create the laws they wish and to impose them to the citizens. Then you have three alternatives: to follow them, to avoid them, or to look for gaps on them.