Lets assume a team has a stock brokerage company registered in Jurisdiction outside of USA, e.g. Singapore or Australia.

1. If this stock brokerage want to add cryto exchange to their business, and offer crytocurrency trading account opening and deposit of crytocurrencies to USA Citizens. Is it a "must" to register the company with SEC?

2. What if this stock brokerage works with P2P crytocurrency merchants to allow clients to convert the crytocurrency into USDT, and use USDT to purchase stocks via custodian account? What will be the relevant legal concerns in this case?


Thanks