IMHO, unless you're VERY large, or extremely unlucky, hosting in the US is fine.
The only problem with USA is, It's hard to find a host that actually allows it. The host says they do, yes, but then they may have a dedicated server from someone else, who resells dedicated servers from another company. The other company colocates in or owns their own datacenter, does the datacenter allow it?
There's all the links in the chain, and every link has to allow it. It's very hard to find, however, there really are hosts that allow it, look how big ProjectW and ForumW are, both hosted in the US (and I'm pretty sure by the same host).
Anyway, I'm pretty sure Ultima has a dedicated or colocation with Hivelocity, who used to host Waushare back when they still had their stolen CC and hacked/phished PayPal section, and they didn't have to remove it until they got a large number of complaints I belive, so you're probably good with them, and looking at WarezScene, I'm sure Ultima knows what he's doing.
