First, I think this would definitely hit the market negatively. A lot of Americans only fiat to crypto on ramp is Coinbase. There is always OTC and local bitcoins and stuff like that but they take a pretty hefty fee. And if you have no way to sell your crypto, it's not really worth that much unless you can find ways to spend it on stuff you need directly.
I'm actually gearing up to participate in smart contract auditing contests where I will be paid in USDT but if I have no way to get it back into fiat that's kind of a problem. Maybe it's time to set up another account somewhere else but it could easily be that many exchanges decide it's not worth it to deal with US regulators.
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