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What parent claims used to be true: > There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We d
by stordoff 8y ago
What parent claims used to be true:
> There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.
https://web.archive.org/web/20171224172135/https://tether.to/legal/ https://web.archive.org/web/20171224172135/https://tether.to...
Currently:
> Tether reserves the right to delay the redemption or withdrawal of Tether Tokens if such delay is necessitated by the illiquidity or unavailability or loss of any Reserves held by Tether to back the Tether Tokens, and Tether reserves the right to redeem Tether Tokens by in-kind redemptions of securities and other assets held in the Reserves.
> Any individual who is a U.S. Person and any entity that is a U.S. Person is prohibited from using the Site or any Services, including but not limited to using a Digital Tokens Wallet on the Site
[and we know that there is a limit on the Reserves]. I'd be _extremely_ wary about claiming they can be redeemed.
https://tether.to/legal/ https://tether.to/legal/
- b_tterc_p 8y agoWow. The US ban seems... unbelievable considering it’s USD based. Surely this breaks some sort of commercial law that the government can swoop in on?
- YawningAngel 8y agoWhy does it seem unbelievable? The US is a pathological jurisdiction that frequently tries to indict people with no direct connection to it and extradite them. Avoiding it seems pretty reasonable to me, I'd consider doing the same. Whether doing so breaks US commercial law seems by-the-by given that they are very pointedly not operating within US jurisdiction.