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.
It's looking like it's for the US but man look closely, this enforcements, this clampdown is affecting the whole world economy on crypto
Why this may sound or look good, this defeats the purpose of anonymity the crypto world enjoys
SEC represents US investors and businesses but it also applies to global markets. The US is arguably the most powerful country in the world, so if their Government makes a decision on how they want to tax or regulate crypto then the rest of the world normally follows in their footsteps.