We all must appreciate this step and that this will also encourage other governments to take similar steps in future.
It's a good initiative from the exchanges themselves, but it only helps till it doesn't help anymore, and that's just a matter of time. The thing is that even with how tight everything is already set up, and will be set up in the future, those who plan to perform inside theft will still be able to do so. It only requires them to become more creative, but they'll find a workaround if needed. It's a lucrative practice if you take into consideration that exchanges hold tens (some times hundreds) of millions worth of crypto value in their wallets.
I am more a supporter of less centralized exchange usage, and more their decentralized equivalents. People don't think about it, but these crypto exchanges are exactly like banks; they hold the majority of the funds, which is quite ironic if you see how people keep saying they want to avoid banks and whatnot. It doesn't matter who or what entity has control over your money and coins, you aren't the owner anymore and completely depend on their mercy.
