I don't know much about the legal rules surrounding relationships between exchanges and token operators, but at least in Britain there are a few ways to define the situation which bypass much of the issues (note: not legal advice). There is an allowance for organisations to be defined as a club for legal purposes. A community of people joining together to achieve their goals.
It seems that the issue of them requiring someone to be named and held responsible in the event of bad behaviour is a bit pointless anyway, since the scale of the community and the potential problems that the exchange might experience are much larger than one person will typically be able to be sued for anyway. I would hope that these places wouldn't end up trying to put you in jail personally if an exchange claimed that Hive's technology had somehow defrauded them!
Seems these folks need a good hard drink of that Satoshi spirit! 😁