/biz/ - Business & Finance

Why isn't the Secret Service prosecuting Tether for printing and coining dollars without the authority of the U.S. Congress?

Several years ago someone in Oklahoma or Texas started issuing "Freedom Dollars" that were redeemable for one ounce of silver - a reincarnation of the silver backed dollar. Secret Service shut them down for counterfeiting.

Tether is one step worse, in that they aren't even redeemable for anything. They're arbitrarily issued to inject liquidity into the crypto market, which in-turn affects the circulating supply of the U.S. Dollar, which is the sort of thing that U.S. doesn't fuck around with. You may be safe from SEC jurisdiction by operating in off-the-wall countries, but the Secret Service can pretty much go anywhere that isn't Iran or N. Korea to stop counterfeiting.