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In addition to that, here's the section on consequences for prohibited use: > Any use, whether actual or suspected, as described in this paragraph shall consti
by mikeyouse 4y ago
In addition to that, here's the section on consequences for prohibited use:
> Any use, whether actual or suspected, as described in this paragraph shall constitute a “Prohibited Use”. If Tether determines that you have engaged in any Prohibited Use, Tether may address such Prohibited Use through an appropriate sanction, in its sole and absolute discretion. Such sanction may include, but is not limited to, making a report to any Government, law enforcement, or other authorities, without providing any notice of you about any such report; confiscation of any Fiat, funds, property, proceeds, or Digital Tokens in any Digital Tokens Wallet that you have on the Site; and, suspending or terminating your access to any Services or Fiat, funds, property, or Digital Tokens from any Digital Tokens Address.
So they can confiscate all of your funds if you engage in prohibited use. What might that entail? In addition to the normal money laundering, committing crimes, etc, they count such dastardly things as:
> 8.8. use the Site or any Services to engage in conduct that is detrimental to Tether or to any other Site user or any other third party;
> 8.14. where you are subject to prohibitions or restrictions as set forth in paragraph 3 [Identifying yourself as being from the US], access the Site or use any Services utilizing any virtual private network, proxy service, or any other third party service, network, or product with the effect of disguising your IP address or location, or access the Site or use any Services using a Digital Tokens Address in or subject to the jurisdiction of any Prohibited Jurisdiction or Government or Government Official thereof; or,
> 8.15. violate, cause a violation of, or conspire or attempt to violate these Terms of Service or applicable Laws.
So if you break their TOS, lie about being from the US, or engage in conduct that's detrimental to Tether, they can just take all of your money and tokens per their TOS.
- klyrs 4y ago> ...engage in conduct that's detrimental to Tether... Participating in a run on tether is detrimental to tether, ipso facto every withdrawal is up to tether's sole and absolute discretion.