Cryptocurrency exchanges all over the world now need to either start following regulations by accepting or they will get banned. After Japan United States' Securities and Exchange Commission (SEC) want exchanges to sign up for the regulations. SEC want the users of each exchange to confirm that either they have signed up for the regulations or not because according to SEC exchanges are doing everything that a exchange should do except signing up for regulations.
According to SEC if any exchange appear as every other exchange in the market then users can get confused and they can assume that all the exchanges have signed up with SEC and they are following the regulations however that's not the case all exchanges in the market have not signed up for the regulations.
All these efforts are done for protecting the investors fund from the fraudulent exchanges. There was a need for these kind of efforts as crypto community has seen many scams in the past. Let's us hope for the best in the future for all the cryptocurrencies.