Re:Bitcoin-Rigging Criminal Probe Focused on Tie to Tether
by mancerayder on Friday November 23, 2018 @02:04PM
(#18518274)
If you operated such a hut outside the jurisdiction of the US, it doesn't matter what laws the US has, they don't apply to you.
I don't know what a 'hut' is in this context, but if it's connected to the USD payment system, not only can the long arm of the U.S. try to apply itself, but the said hut can be cut off via pressure on the international banking system. For the former, see the links I sent, which includes a case about New York State applying laws to an overseas entity; for the former, consider Iran and sanctions.
If your hut consists of a person shuffling US currency around with thumbs and rubber bands, well, that's a different story.
Anybody can setup a little hut where they take in physical US dollars and give out virtual dollars which can be transferred over the internet, ala Tether.
If you operated such a hut outside the jurisdiction of the US, it doesn't matter what laws the US has, they don't apply to you.
This is the point I was trying to make that you dismissed as "infantile": just because you hold US dollars doesn't mean US laws apply to you.