Hacker News Reader

So regulate it then, Tether is shady and isnt backed by USD at all and yet it is used all over the US.

Tether does its best to live outside of US regulation. It has no US bank accounts, nor do any directors live in extradictable countries.

If they’re holding USDs they are bound to US regulations.

What is this statement based on?

Plenty of sovereign nations (and individuals in those countries) hold reserves of USD and the US has no authority over them.

You’re right. I thought these would apply internationally but it seems like it’s only if one of the party is a US citizen: https://www.jdsupra.com/post/contentViewerEmbed.aspx?fid=f66...

At least for ofac