To the extent that Tether is anywhere, it's in notorious financial law evasion island Grand Cayman.

It's already illegal to supply overseas gambling services to Americans (Pokerstars). Quite a lot of the crypto world would arguably be ruled illegal under existing law if it was prosecuted before an American court - or a British one, or many other jurisdictions. It's just that there's so much of it, it moves so fast, and has enough legitimate-looking political cover that it's escaped so far.

Here's former UK minister Matt Hancock, for example: https://www.cityam.com/my-mission-is-to-make-the-uk-love-cry...