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Their terms of service currently has this clause: Beginning on January 1, 2018, Tether Tokens will no longer be issued to U.S. Persons. https://tether.to/lega
by js2 9y ago
Their terms of service currently has this clause:
Beginning on January 1, 2018, Tether Tokens will no longer be issued to U.S. Persons.
https://tether.to/legal/ https://tether.to/legal/
So these USDT are being issued to non-U.S. Persons. How does that work? A non-U.S. Person wires funds in their local currency to tether who applies the current exchange rate for that currency to USD then issues an equivalent number of USDT? Why would anyone do that instead of just purchasing the tether for their own currency?
- Mandatum 9y agoIt's so they're not caught out by laws pertaining to "USD-backed securities" enforced by the nice people at the SEC. This doesn't excuse them from previous transactions they've already made.. Which means likely they didn't start printing Tether until after 1st of Jan. It's likely they have loans out for the amount stuck in escrow since Taiwan froze their wire's in April. This is the heist of the century. They're 5% of the way to ENRON level shenanigans.