It works based on it being redeemable for USD. It says it has frequent audits, but only recent one made public was not considered an audit by their own words. U

It works based on it being redeemable for USD. It says it has frequent audits, but only recent one made public was not considered an audit by their own words. US residents on their legal page and updates is stated to not be legal customers of USDT. Answered this in another thread that includes citation from their own site: https://news.ycombinator.com/item?id=16141938 https://news.ycombinator.com/item?id=16141938