[chinathrow]

Their upstream providers are happy to tap the traffic if someone with enough $$$ knocks on their door.

Also, why are these companies registered in Panama or the British Virgin Islands?

[0-_-0]

They don't have a data retention policy [1]. The European Union for example requires "the retention of data generated or processed in connection with the provision of publicly available electronic communications services or of public communications networks and amending Directive 2002/58/EC" for up to 2 years:

[1] https://en.wikipedia.org/wiki/Data_retention

[rmrfstar]

https://en.wikipedia.org/wiki/Offshore_financial_centre

[chinathrow]

I get that - but building trust comes not with a company registration in a tax heaven.