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Re:Legal expert says Tether and Binance Coin are likely pick... by SpicyLemonZest on Wednesday June 16, 2021 @12:31PM (#27530412)
And it's critical to note that Tether has, in fact, refused to process any redemptions for any US client since 2018.
Re:Legal expert says Tether and Binance Coin are likely pick... by skybrian on Wednesday June 16, 2021 @12:38PM (#27530503)
I’m wondering why non-US intermediaries couldn’t do it?
Re:Legal expert says Tether and Binance Coin are likely pick... by SpicyLemonZest on Wednesday June 16, 2021 @12:54PM (#27530703)
According to their stated policy (https://tether.to/fees/), a non-US intermediary would have to:

* Pay them a nonrefundable $150 fee.

* Wait for your account to be verified, if you're approved - they have "sole discretion to approve or not approve accounts"

* Send them a minimum of 100,000 USDT

* Pay an additional $1000.

To be clear, it's likely that all of this is a lie and they simply aren't processing redemptions for anyone. I'm not aware of any documented story from the last few years of someone successfully performing a Tether redemption. The US policy is just easier to talk about because it's explicit: they say, in black and white (https://tether.to/faqs/), that "no issuance or redeeming services will be available to these users".

Re:Legal expert says Tether and Binance Coin are likely pick... by wmf on Wednesday June 16, 2021 @12:49PM (#27530637)
There's no evidence that Tether does redemptions for anyone.
Re:Legal expert says Tether and Binance Coin are likely pick... by anonymoushn on Wednesday June 16, 2021 @08:55PM (#27535167)
If you ask any trading desk in the space they will tell you they personally regularly do this.
Re:Legal expert says Tether and Binance Coin are likely pick... by wmf on Friday June 18, 2021 @07:02PM (#27555950)
What bank did the wire transfer come from?