The subsisting laws in the country you'll be operating from is what matters, as it will determine if you'll be able to operate with/without a license. In countries that aren't really crypto friendly, you might have a hard time operating in those places.
Yes I think that's the point, on top of that I guess it's important not to provide the service to people who come from regulated countries.
I guess I need to look for a country that has no regulation about bitcoin and establish there, it's just not easy to find the right place.