[projmayhem]

It's very simple. The SEC will prosecute one of the big boy "exchanges" and bring that company to a screeching halt. All of the rest will have to meet stringent regulatory requirements in order to service American customers.

[lagadu]

This only works for US-based exchanges though.

[pjc50]

Tell that to the poker companies. https://en.wikipedia.org/wiki/United_States_v._Scheinberg

[matthewbauer]

I think it would be any exchange holding Americans' assets. Note that lots of countries will follow the US lead on this too.