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> they've gone to lengths to avoid US jurisdiction. can you offer some details about what you're describing?
by mr_spothawk 9y ago
> they've gone to lengths to avoid US jurisdiction.
can you offer some details about what you're describing?
- wmf 9y agoMost governments really doesn't like people issuing anonymous assets that are "as good as dollars" like Liberty Reserve or Tether. The entire point of Tether is to help cryptocurrency exchanges avoid AML/KYC laws (because it's expensive to comply with them) and their problems appear to stem from that. IIRC Tether is based in Taiwan and their mystical $2B bank account is presumably in some "offshore" jurisdiction. If Tether ever released an audit they'd have to reveal either that they have no money or what bank they're using and then that bank would be pressured to close their account.
- kalleboo 9y agoThey deny service to US customers.