TBH, it is a necessary step towards mutual co-operation to achieve a blockchain-enabled future, spearheaded by cryptocurrencies that aim to stay regulatory compliant.

You can checkout my analysis in my blog post at. I agree with the points made above.

https://steemit.com/cryptocurrency/@cryptovate/is-the-digital-gold-rush-over-usd400b-wiped-from-global-crypto-market-cap-in-january-bloodbath