EU Users in Shock: OKX Exchange Drops Tether's USDT - What now?

[JohnLocke]

Maybe we can steer back to the topic and skip the politics, war, and "How World War III Ends" scenarios.

Thanks, my finger’s getting a workout from all the moving, deleting, and slapping that warning button!

 

[FATCA]

I also expect at some point something like the US and reporting of foreign currencies, but for EU residents.

When do you think that would happen?

 

[maxmoney]

When do you think that would happen?

No one is able to answer that precisely but a good guess would be anytime soon.

 

[FATCA]

No one is able to answer that precisely but a good guess would be anytime soon.

Why would US obey EU "anytime soon"?

 

[ivan1911]

Binance just sent a message yesterday to me that I need to convert usdt… so it’s probably rolling out on all exchanges that have eu presence…

 

[palandrome]

Yeah it looks like you are right. I have a very bad feeling about all of it and I feel utterly cornered. It's an egregious violation of freedom, what's happening in the EU - and the word "Lobster" is just the right word to use.

That being said, what happens next? Are we stuck with our USDT if we don't exchange them in good time, or is there no reason to be worried about this?

Set up an offshore business, move the USDT to an offshore business account and convert to USDC - if you you're worried about holding USDT

 

[koohl]

Still USDT works fine on Kraken for me, used it yesterday the latest.

 

[TheCryptoAnt]

guys its not that deep just tell your exchange you now live in Thailand and send them a new proof of address. USDT is back on (and likely futures too as many EU countries have them banned)