Well not really. Most people buy coins because they believe the price will climb and never use them for buying. For the retailers who accept bitcoin many are in smaller countries where the law wouldn't apply and many semi-legimate uses (ordering weed by mail) would continue to accept payment this way because their activity is more illegal (carrys a bigger punishment) than the new bitcoin law would.

What is the point of BTC price climbing if you wouldn't be able to convert it to cash or pay for goods?