/biz/ - Business & Finance

>>6737373
Tether has failed to release any proper auditing for months. In April 2017, they said a big-four auditing firm would release an audit in a matter of weeks. That means they either maintain a fractional reserve or operate a money laundering scheme. In both cases, it will get shutdown by the government.

A simple example of how Tether clearly breaks the law: I have checked and they do not have the electronic money institution license (EMI license) required to emit EURT(tethered euro) in exchanges for euros.

What's more? If the monthly volume exceeds 5M euros they need a special prudential status (that they would never obtain because they launder money at scale). The corporations who got the EMI license are public record

Tether will get shut down at some point. This will make the crypto market mature but will take exchanges out in its fall. Storing your holdings on an exchange using tether is a liability you should consider. A simple way to fix this is to email your favorite exchange and ask them to limit their exposure to USDT/EURT. If enough people do this, you will see them take action.

750M in less than a week.