I think the outcome will be one of two things.
More completely decentralized exchanges will be created and user base will grow making it virtually impossible to meaningfully regulate.
Or, people will adopt the use of proxy's or TOR and simply stop using US based exchange's altogether. Again making it virtually impossible to meaningfully regulate.
In summary, this legislation is virtually meaningless to everyone except the company and their employees. Government failed again by being short sighted, slow and failing to comprehend the space they were regulating.
RE: License Required: Poloniex, Bitfinex Will Stop Operations in Washington