Posted 9/25/2023, 10:18:45 AM

Tether Updates Terms to Limit Some Singapore Users After Major Crypto Money Laundering Bust

Tether reportedly updated its terms of service to prohibit some Singapore customer groups from redeeming USDT.
An email from Tether to Cake DeFi said it found the company to be "controlled by another corporation" in Singapore.
Tether's updated terms restrict onboarding and redeeming for companies controlled by entities/people in Singapore.
The policy change comes after a major crypto money laundering bust in Singapore involving over $2 billion.
Some speculate the Tether policy change may only affect Cake DeFi, while others link it to Singapore's recent crypto scandals.

cointelegraph.com

Relevant topic timeline:

8/27/2023

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