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I think it relates to this quote from the article: "Tether is grateful for the opportunity to address the concerns raised by U.S. lawmakers, and we are committ
by mteam88 3y ago
I think it relates to this quote from the article:
"Tether is grateful for the opportunity to address the concerns raised by U.S. lawmakers, and we are committed to continuing Tether’s close work with law enforcement in the U.S. and globally. Tether seeks to be a world class partner to the U.S. as we continue to assist law enforcement and expand dollar hegemony globally."
~ a dedication to working together in the future
- duskwuff 3y agoWhich is itself a weird phrasing. OFAC compliance is an obligation, not an "opportunity".
- s1artibartfast 3y agoPerhaps "the opportunity to address the concerns" is in contrast to being shut down with no opportunity for corrective action. Kinda like someone released on parole is happy for an opportunity to work and obey the law.
- agentgumshoe 3y agoStill not a partnership. Tether spin.
- s1artibartfast 3y agoobviously spin, but "partnership" doesn't bother me much. Partnership doesnt mean equal partners. Someone might have a business "partnership" with a warlord, that lets them live as long as you prive payments.
- duskwuff 3y ago> Partnership doesnt mean equal partners. It still implies some sort of meeting of the minds. You wouldn't say you've entered a "partnership" with the IRS because you paid your taxes, nor a "partnership" with the police because they pulled you over and searched your car.
- jakderrida 3y ago"I'm excited to work with the Philadelphia Police Department in our new partnership and am thankful they agreed to negotiate yet another meeting with the parole board after I helpfully divulge where I hid more of the remaining bodies." You really do catch more flies with honey.
- b112 3y agoThey have absolutely no power in the relationship. It's do as legislated/court ordered, or pain. If there is 0 control over things, it's not a partnership.
- smsm42 3y agoYes, they don't have any power. That doesn't prevent them from presenting it like they are eagerly collaborating. And why not? Nobody wants to piss off federal government or the Congress, it's better to show they love it.
- agentgumshoe 3y agoErr.. except the environment they exist in - 'crypto' - tends to be full of anti-gov/3letteragency types, so you'd think this is a bad PR angle to take. At a guess, I would say this is more flagging to their real customers that their funds aren't safu...
- smsm42 3y agoDon't confuse the reddit/twitter crowd with the businesses dealing with billions of dollars. The latter can not survive - or at least can not operate in any way that is connected to the US financial system or touching it in any form - if they don't play nice with regulators like OFAC. They could be all ancaps in the depths of their souls, but if they don't play nice, they'd end up in jail. It's not dependent in any way on their politics or the strength of their convictions - it's just how it is when you're dealing with the financial markets. You can be as anti-government as you want, but if you do what the regulators consider money laundering, either you stop it immediately when they tell you (or before), or you will get shut down. If they are not getting shut down, then they are likely cooperating, there's not much other options.
- deleted 3y ago[deleted]
- Incipient 3y agoOf course it's spin. What else could they say? "we keep having to respond to your damn emails"?
- hulitu 3y agoBusiness is business. They are proactive in selling their service to the government.
- SmarsJerry 3y agoIn lay men’s terms this is called ass kissing.
- smsm42 3y agoCorpspeak for "we follow the laws, please don't shut us down or fine us, we're the good guys".