Avoid, as they attract attention for mere fact of operating there. Some jurisdictions, like Cyprus, should be avoided despite signing the agreement to comply as much of their foreign transactions have origins that are questionable. As an American, I don't get away from regulations because I am in a foreign jurisdiction or my counter-party is. They and I just get more paperwork and forms to fill out. That doesn't mean some risk in these regards isn't worth it, but if one is going to engage in actions not in compliance with the U.S. regulatory regime, be aware of what it is. I would question anybody that does like Cryptsy was incorporated in Belize. That should have been a red flag as it would probably be just as easy incorporating in Bermuda or BVI. However, Belize has certain advantages for certain people and I would like to avoid those people.