I just want to point out that a lot of people believe that a security deicision for ETH wont be a big deal. And maybe not, because it would be easy for Coinbase (gdax) and Gemini to become compliant very quickly. However, it will hurt americans trading alts significantly. Coinbase only lists 4 coins, Gemini only 2. Not too big a deal. But if ETH (and every coin that had an ICO basically) is deemed a security, then Americans can say goodbye to shitcoin trading.

Americans will not be allowed to trade on Okex, Binance, HitBTC etc. KYC already exists for almost all centralized exchanges. They would just pull the plug immediately on all accounts from american citizens. I think decentralized exchanges wont be too affected, but I can totally see whitelists and geoblocking for american citizens there as well. If ICOs can stop American citizens, then you can bet decentralized exchanges will do the same.

Please dont downvote this, and instead comment on why you disagree instead, as its something important that needs discussing.