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Jeff thank you for replying here and reinforcing the emphasis we will place on having resources available to educate users to what laws apply. Excluding countries like the USA with the most restrictions is also an option if that is best for everyone involved.

How many Steem users are actually in the USA? I believe the percentage is less than 20% meaning the majority of users here have no need to comply with laws in the USA regarding financial transactions when not buying or selling with someone in the USA.

Localbitcoins has a huge number of users and our exchange will eventually have even more! I have never used localbitcoins either because the fees are way higher than the exchanges I can use because I live in the USA and have easy access to several exchanges. Most of the people on earth cannot say the same. Most do not have a way to easily cash out $10 or $100 or $1000 of Bitcoin into a bank account. Our exchange fills a gigantic need that might be hard to see when just considering the USA.