This was always going to happen, and anyone in the crypto space who thinks otherwise was kidding themselves. There is absolutely no way governments were going to allow unlicensed, anonymous money transfer services forever - sooner or later, every player in crypto will get Feds showing up at their door saying "AML/KYC or life in prison, up to you". Some of them will move offshore, but ultimately, exchanges between crypto and fiat are the unavoidable chokepoints and they will be closed off.