With SEC rules coming down on CryptoCurrency and everyone involved, its important for everyone to Verify Residency. Also, its to protect traders on the exchange.
Well, like they say, SEC dont make the rules they try to enforce it and when they start working on a new economy they dont relent. Crypto wont be exempted.
But its easy, SEC is only for US citizens and consumers with indica of US person status. When we KYCe, we got no problems with these rules.
Are you sure about SEC being just for the US citizens and those promoting it in the US? Because I know majority of ICO's banned US citizens from participating in their ICO.