Why Tether is risking it all for North Korea | Crypto

Why Tether is risking it all for North Korea

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The U.S. Treasury has been ramping up its regulation of cryptocurrencies and recently blacklisted A company called Tornado Cash that delves deep into financial crazy areas by anonymizing crypto transactions.
– Tether has not been accused of doing anything wrong. However, since the Treasury has come down against the anonymizing service, Tether has gone ahead and continued to allow crypto wallets that are otherwise non grata to use the Digital tokens.
– Chutzpah is the word that comes to mind. Sanctions are A tool of economic isolation, A way to crush A company or A country by starving it of financial resources. they are also public. Anyone with an internet connection can see what the Sanctions are.
– Tether makes the argument that its really A Hong Kong company, so it doesnt have to listen to what the Treasury says. but thats not how it works, especially since Tether has previously submitted to U.S. regulation and even settled with new Yorks attorney general over fraud.
– the reality is that if money flows through the U.S. financial system, the federal government pretty much gets to control it.
– There are plenty of good arguments against sanctioning Tornado Cash and other anonymizing services, but these arent the arguments Tether is making.
– at the same time, money came rushing into its largest competitor, USD Coin, which does basically the same thing. In fact, There are all kinds of stablecoins out There that basically do the same thing, and the great big sloshing of money This year has shown that its too big to fail status is far from secure.

3eca011767d07da9b629684b5fa296231e north korea tether.1x.rsocial.w1200 2 Why Tether is risking it all for North Korea

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