This argument seems a little silly: Address fraud is a thing, but odds of authorities going for you because you have a foreign digital content account is pretty low. Unless that address was actually being physically abused, odds are your local gov doesn't care - they go for the bigger fishes that commit real serious fraud.
That said most regions get the same content bar maybe Japan (due to cultural differences ect) - there's rarely reason to really need a foreign account. Bar for the odd title that doesn't get localised. But I think you have to allow for a bit of this trading about, if a game is never imported, people won't learn about it, or be able to say "hey we want this too!". Still remember how Europe had to campaign and complain to Nintendo Europe about Animal Crossing GC. We got it then only because people knew what it was and called for it. Now it's a huge system seller worldwide.
I know that's not really the same thing, but technically importing is a bit frowned upon in markets. It sort of took mass-imports of American Animal Crossing to get the point across. There are still many games you have to import to enjoy, if you actively criminalise digital importing, then you take away one of the joys of gaming, being able to discover the unknown, unique or too-quirky-to-localise titles.