What about located and regulated in Panama is so hard to understand? Nothing to do with SEC we are regulated by the SMV. Erik is a US citizen.
Guilt by association. Any exchange that solicits or permits US customers to transact business, which you in turn facilitate, means you're on the hook too, even if you don't think you are.
But what the hell am I doing, debating some virtual "service provider" about how they're about to get the hammer. Go ahead, keep doing what you're doing, I'll laugh at the headlines later.