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What would happen if the US Government stepped in and took over Tether? Would it be feasible for a different foreign government to do so?
by stcredzero 8y ago
What would happen if the US Government stepped in and took over Tether? Would it be feasible for a different foreign government to do so?
- BubRoss 8y agoWhat would they take over? Massive liabilities?
- stcredzero 8y agoJust business as usual.
- elliekelly 8y agoThey would almost certainly not have the jurisdiction. They’re a BVI Corp (a jurisdiction that tends to look the other way at corporate fraud) and I believe operate out of Hong Kong. Lately it seems the Chinese government practically encourages companies to commit securities fraud in the US so I can’t imagine they’d be much help either. I suspect the likely outcome (eventually.. and if Bitfinex doesnt fold first) is the US government seizing their domain to prevent them from continuing to commit fraud. Edit: missed a word
- 55555 8y ago> Lately it seems the Chinese government practically encourages companies to commit securities fraud in the US so I can’t imagine they’d be much help either. The China Hustle is a good movie if anyone wants to see how these schemes work.
- Tsubasachan 8y agoEvery government in the world has dissuaded its citizens to get involved with crypto. If there is a bankrun on ING or WellsFargo the government will act. With Tether you're on your own. Cryptocurrency places you outside the financial system- the system r/bitcoin professed to hate.
- stcredzero 8y agoWouldn't the US government taking over Tether give them a toehold to monitor or control Cryptocurrency? They couldn't control all of crypto, but they could possibly control the favored way of getting the value out.