Tradesatoshi Ltd is incorporated in Hong Kong according to its terms:
OK it looks like I missed this earlier, but I still don't think its good business for an exchange to suddenly impose KYC on everybody and then lock customers out of their accounts for refusing to comply. Every other exchange that has done this:
1. gives the customers the chance to withdrawal their funds, or
2. allows the customers to change the information they entered to match the supporting documents they are uploading
Their terms and conditions are largely plagiarized from another exchange,
Bitexlive, but even after their March 12 update, nowhere does it say anything about KYC or users having their accounts frozen for failing to comply with KYC.
I've been a customer of Bittrex since 2014 and they've never asked for my KYC. I used them as recently as today.
Regardless of their legal status, Binance is the #1 exchange for good reason: they are considered trustworthy and they value the business of their customers. Yes, this could all chance tomorrow, but in this industry the only thing exchanges really have is reputation. Binance has a lot, Trade Satoshi has none.
Even well-regulated exchanges like Gemini or Coinbase could get hacked tomorrow -- its just a risk inherent in the business.
But to screw customers over like Trade Satoshi does by raising withdrawal fees to ridiculous amounts and then mock them for not wanting to comply with suddenly-imposed KYC shows how much respect for them, which is not much.