I can only imagine what day- and bot-traders with any significant skin in the game will face. The saving grace is that it seems they're currently focusing on those making/trading over 20k, and requiring the exchanges (within the US?) to know their customer (KTC).
I am of the firm belief that the government should keep their sh!t out of this until any crypto becomes FIAT... a flat "I spent this much in 2017, and pulled this much out" should be enough for them. What they'll hate most is when crypto can be used more ubiquitously to buy everyday things, online or in brick-and-mortar stores.
This is going to be... interesting.