Wire cutters are not mandatory as far as the FAA is concerned in the US (right now).
BUT they have become mandatory for the forest service and we have them on almost all of our helicopters.
I am sure that sooner or later everybody will need to have them. The funny thing I thought was something I read recently. I read that there are more accidents with planes and wires than with helicopters. It seems like helo pilots are constantly trained about them and are therefore more aware when it comes to wires. Going slower than most fixed wing planes helps as well...
And yes, just like MO said, they keep you from getting your skids get hung up in the wires as well as your rotor-system. On some tradeshows they have demonstrations on how good they work and it's pretty impressive I have to say. They can cut through 1/2'' steel cable like butter!!
Most pedestrians think they are antennas!! HA HA