Do foreign bitcoin exchanges need to be liscensed in every US state?
As CTO of Bit2C, Israel bitcoin exchange I can tell from my experience that the exchange has a bank account at it's local country, the exchange required by the bank which holds the customers funds to "know your customers" and in Israel we are obligated to ask from customers who make deposits to sign a document declaring they have no us citizenship, so we can't deal with US customers.