I don't think it's for the Cryptocurrency market is certainly have an impact, but for now the influence of national policy for the whole Cryptocurrency market is bigger, so the United States today's hearing becomes very critical.
They are against mostly untruthful ICOs and spammers. Last year they have to fight about millions of pishing ads, most of them about new currencies and about making fast money. I believe they are not such as bad news as it seems, for they, probably, will fight all those pishing and scammers that are contaminating the web.
Besides, they don't specifically declare yet what is going to be their politics about it. They just have said they are going to pursue illegal activities, scamming and pishing related to crypto and other "finantial products".
Lets relax, wait and see.