I think this has more just the consequences of international law (particularly the US being all up in your business via FATCA to the point of Japanese banks not wanting to even bother if you are a US citizen). It seems better than the Android situation where you either have to wait a _year_ between switching countries on your account or find the APK (y’know, for your _banking_ app) on some shady site.

I doubt this has anything do whatsoever with laws. If it laws then something would prevent me from installing software from other countries on my computer.

Not a direct result, more like the banks don’t want/care about international customers (due to the laws), so they don’t bother publishing to different regions of the App Store.