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.
It is not only about SEC is also about the central banks and the governing policies of the country; take AML for example; that is to do with crime and finance. It is a whole regulatory organization building up now and not only limited to SEC.
Right. And I think it's positive for crypto in future. It will help in keeping crypto clean and not like what we think it is. I mean crypto used by mafia mostly.
Its crypto for everyone. Mafia, gangsters, Silk Road, dark web, everyone. USD and most fiat are used for the same bruh. Why the focus on crypto alone?
These existed before btc.
They fear not having control over it. They can't be able to regulate it and see what is going on with cryptocurrency if they don't have control over it and the banks might also become useless if crypto is not regularised, that is just the fear of the government.