Very little information is available on the extent of the investigation, mainly what exchanges are they looking at. If they are only looking at US exchanges, then the impact may be limited. Second can they achieve anything? Traditional are also allegedly manipulated to a large degree, specially ones that are relatively less liquid or are OTC. So i wonder how much can they achieve.

The good thing is that this may cause other legal authorities in other jurisdictions to also investigate and may be it reduces the extent of manipulation. I think exchanges based in tax havens should be targetted the most since those jurisdictions are incentivised little to investigate as their primary benefit is presence of an exchange on their land to create employment etc and lead to indirect tax revenue.

Its a good thing nonetheless. Lets wait and see.