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".
* 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".