Right now the bill has no real application, because bitcoins are no a tangible thing, and with 12 seed words you can access you wallet at the other side of the border, but was is bad about this news is the direction the future could go if governments decide to intervene and regulate crypto-currencies and that is surely possible, in some countries bitcoin is ilegal and on some other countries, central banks are preparing to ICO their own digital money. Bitcoin now has great flaws in speed / fees / irreversible accidental transactions, and if a central bank offer a better crypto currency it sure will attract the majority of the business and people attention.