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RE: DTube | Get Your Crypto OFF Tether Exchanges - Bitfinex, Binance...
Tether seems really dodgy to me, like they are just printing money out of thin air. Seems like the SEC will come down on them and crypto generally eventually. How can people exchange their crypto for fiat? That is still a mystery to me ... Coinbase is huge I know, but as an American overseas without a driver's license, I cant set up an account with them. What other options do I have?
Yep, that's exactly what will happen. The CFTC already finex Bitfinex $75k back in 2016 for failing to register as a Futures Commission Merchant (http://www.cftc.gov/PressRoom/PressReleases/pr7380-16), but I can't imagine what kind of shitstorm will be kicked up when the USA goes after them for counterfeiting USD via Tether.
There is a slim possibility that Tether is in fact back by USD if Bitfinex is exchanging received bitcoin and/or other cryptos on regulated fiat exchanges like Gdax and Bistamp, and then wiring that USD back to their secretive offshore bank accounts.
If I were Bitfinex/Tether and I didn't have access to USD via normal banks, that's exactly what I would be doing.