I think the real indicator to keep an eye on is how "regulators" choose to address decentralized exchanges. It goes without saying that Wall St will be acquiring the more centralized crypto exchanges and ancillary services. My gut tells me they will label decentralized exchanges illegal and tell the public that terrorists use them to skirt regulation or some other boogeyman narrative.
Just look at what the DOJ did to Ross Ulbricht. They will use his case as evidence that they are not messing around, and anyone willing to forge ahead with decentralized exchanges will pay the ultimate price.
I encourage everyone to watch this presentation from Ross' mother about how he was unrightfully sentenced for creating the first decentralized exchange.
https://drive.google.com/file/d/16DBD7RnVv2k2aSlorhg9WaBNemGbIBOF/view