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.
SEC is in the US, but they have cross-boarder cooperations with a lot of agencies everywhere in the world, so don't underestimate their power.