Regulations could be such that in effect it becomes a ban and only people with (probably not great) algos willing to disclose the logic will be allowed among other things.
Nothing is decided yet but it seems that the discussions are similar to previous consultation paper. Everything seems to be focussed around algo sellers, no idea if they will give space to people using apis that dont sell algos.
If that happens we will have to go back to workaround automation such as GUI automation etc.