A tether truther, in this day and and age? 2017 called...
The passing of GENIUS act marks one of, possibly the largest banking regulatory changes in the US. The stablecoin industry is very legitimate, has very firmly established guardrails and rules, and tether is working fast to become fully compliant.
This "TeTheR iS a SySTEmiC RiSK tO eVEryThiNG" mentality is fully dead. Tether is compliant in a regulated industry, tether is backed, and tether is quickly running away with the entire market.
A company actively navigating a huge regulatory change is not the same as a flagrant scam hiding in plain sight.
I don't know why I'm bothering to reply. Tether truthers are modern day financial luddites, willingly blind and ignorant of the sea change taking place in plain sight after the passing of GENIUS.
I don't have a dog in this fight. I don't much care about crypto and know pretty much nothing about Tether beyond the fact that they have a USD-linked coin, plus what I just read on Wikipedia. "They're on the up-and-up because they say they're going to be complying with US law in the future" just isn't a very convincing argument.
> I don't know why I'm bothering to reply. Tether truthers are modern day financial luddites, willingly blind and ignorant of the sea change taking place in plain sight after the passing of GENIUS.
Well they must be regulated somewhere, right? Where are the reports from regulators that all is OK, or at the very least an audit.
And if you can't get one of the Big 4 to sign off on your finances, then you have big big problems. Even Wirecard and Enron managed that.
The passing of GENIUS act marks one of, possibly the largest banking regulatory changes in the US. The stablecoin industry is very legitimate, has very firmly established guardrails and rules, and tether is working fast to become fully compliant.
This "TeTheR iS a SySTEmiC RiSK tO eVEryThiNG" mentality is fully dead. Tether is compliant in a regulated industry, tether is backed, and tether is quickly running away with the entire market.