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by xur17 1992 days ago
https://tether.to/faqs/

> Unfortunately, Tether has decided to stop serving U.S. individual and corporate customers altogether. As of January 1, 2018, no issuance or redeeming services will be available to these users. Exceptions to these provisions may be made by Tether, in its sole discretion, for entities that are: Established or organized outside of the United States or its territorial or insular possessions; and, Eligible Contract Participants pursuant to U.S. law.

> An Eligible Contract Participant includes a corporation that has total assets exceeding $10,000,000 and is incorporated in a jurisdiction outside of the United States or its territories or insular possessions. This will be the principal basis upon which we will continue to do business with selected U.S. persons.

Basically, it looks like they only provide on and off ramps for large clients outside the US. Given their history, I am betting they might not want to reveal where they store their assets, and don't want to deal with US regulators (but not sure this is working).
2 comments
whimsicalism 1992 days ago
So as source for the claim that you "can't redeem tether", you are linking to something that says you can redeem tether?
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cool_dude85 1992 days ago
Tell you what: you give me $100, I'll give you back a cooldude coupon. I have sole discretion as to whether I'll redeem this coupon when you hand it back to me.

Question: Would you say you can redeem this coupon? It's possible I might decide to give you back your money, after all.

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FabHK 1992 days ago
> something that says you can redeem tether

Tether, in its sole discretion, may choose to redeem tether, as long as you're a corporation with over 10m USDT incorporated outside the US.

I'd say that's not an ironclad guarantee that you can redeem tether.

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xur17 1992 days ago
When did I say I was providing a source for not being able to redeem tether? I'm just linking to information that I found useful when forming an opinion on the matter.
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seibelj 1992 days ago
Yes, I worked at a company that had an entity outside the US that minted and redeemed tethers. This is how it works.
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