I must have touched on a nerve.
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To be fair, your statement about tether allowing traders and exchanges to sidestep the BSA is incorrect. Also, I’m not aware of any fiat-reserve coins that do not KYC at the official points of entry and redemption.
How long do you think your lies will go on and not catch up to you, Jesse?
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Tether International Limited isn’t registered with FinCen, and while you may have faith that KYC has always been properly performed, it’s hard to buy that when no audit has been performed, no security audits have been performed, and loans were handed out w/o public notice.
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How many millions has Jesse made because he runs a Tether wash trading exchange
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That was literally the whole point of tether in 2015, when it said in its FAQ, "You can fund your account with bitcoins and convert to Tethers to stabilize your bitcoins and without having to undertake KYC." web.archive.org/web/2015052100
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But now you’re talking about the past. Your original tweet was making a statement about the present.
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Most traders don't buy tethers directly from Tether. They normally obtain tethers from a middle person, such as an exchange or OTC desk.
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Most traders don’t buy bitcoin directly from miners either. The BSA applies to those subject to its jurisdiction whether people acknowledge it or not. Some might incorrectly assume a free pass. Not all transactions globally require KYC and the BSA is about more than just KYC.
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Because real USD doesn’t move around the world 24/7/365, cannot be used in smart contracts, and some people who would like to hold real USD are shut out by the banking system or underserved in their geo. I’m sure there’d be demand for an official crypto dollar too.
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