I don’t think it will completely decentralize it, it will still physically operate the same way, however as soon as they start placing rules on crypto flowing to and from separately hosted wallets that are not part of an exchange, they are effectively controlling and monitoring all of it. We already knew that places like coin base had to comply for tax purposes and would handover info if the government required it, but at least it didn’t apply to separately hosted wallets at that point and it looks like it will soon.