Is version 1.2 mandatory for update?I see a lot of people not updating their wallets, it doesn't seem to matter.
It is up to you. If you transfer all your sem into your exchange wallet, in fact no need to update this version. But if you want to store and keep voting, I think you should do it for proper syncing.
I had to update my wallet to the latest version. Since he closed with an error. After the update, everything was stable.