The CTO of Tether, Paolo Ardoino, posted a tweet about the information shared by some local news media that is related to the terms of service of Tether in Singapore.
As per local media news, Tether has informed Cake DeFi CEO via email that it has modified its terms of service and that corporations controlled by another entity, directors, and shareholders who reside in Singapore are no longer allowed to use the service. It also mentioned that this action may be connected to the recent money laundering case in Singapore.
Paolo Ardoino has tweeted that they have had Singapore in Prohibited Jurisdictions since May 12, 2020, and mentioned that “Before spreading FUD it would be great if you guys did take a look at webarchive… This is Jan 2022….” and shared its link.
Also Read: Singapore Red Cross Begins to Accept Crypto Donations
