Perhaps I am too cynical but given Equifax is still fresh on my mind I really have doubts the US government will do anything but pass laws to make sure they are getting taxes from cryptocurrencies.
Taxing cryptocurrencies will likely push traders who want a greater margin to foreign countries' exchanges; but I see it as a step in the right direction for institutionalizing the practice. I've seen a posts across multiple subreddits where people want to start trading these purely as investment vehicles rather than use the underlying technology. With an influx of ideologies working both with and against one another, a lot of ordinary people can get harmed from the wild-west environment and volatility associated with it.