China, as of yesterday, is considering a blanket ban on all ICOs. Ethereum prices, of course, appreciated as a result.
I think crypto-anarchists will always find technology to "route around" any bad sectors in the network. Even if it comes down to sharing e-wallets via secure bluetooth mesh networks in ad-hoc fashion.
The more impactful story may be the way Big Banks are adopting blockchain tech. As with the R3 consortium and open-source Corda project:
Another data point to watch is LedgerX, the first LedgerX CFTC-regulated Swap Execution Facility (SEF) and Derivatives Clearing Organization (DCO) for crypto currencies.