make digital currency our only choice and this is an example of what it may cost you;
Last month, Tether — the issuer of the world’s largest stablecoin — froze $24 million in USDT at the request of authorities, citing compliance with anti–money laundering regulations.
The move was immediately celebrated by the pro-centralization, pro-government crowd as a win for “financial safety.” But in reality, it’s another warning sign that centralized stablecoins are little more than programmable money subject to instant, unilateral seizure — no court order, no due process, no presumption of innocence. Just allegations and a compliance request.
And this isn’t some rare, extraordinary measure. It happens all the time.
A Pattern of Instant Seizure Without Due Process
Tether has repeatedly frozen and seized funds whenever authorities come knocking — often based solely on allegations:
- November 2023: $225 million in USDT frozen linked to alleged human traffickers at the request of the U.S. DOJ.
- November 2022: $46 million in USDT frozen following a law enforcement request.
- January 2022: $160 million in USDT frozen on the Ethereum blockchain.........more..........
No comments:
Post a Comment