An email from Tether shared by Cake CEO revealed that there has been a change in Tether's terms of service in Singapore.
Tether Changes Terms of Service, Bans Institutions and Individuals in Singapore
According to the update, directors and shareholders residing in Singapore, as well as companies under the control of another entity, are no longer eligible to become Tether customers.
The reason behind this change remains unclear, leading to speculation about its potential connection to a recent money laundering case in Singapore.
The amended terms of service mark a significant shift in Tether's customer eligibility criteria and specifically target Singapore-related organizations and individuals.
While the exact reasons behind this change have not been revealed, industry experts are closely monitoring the situation for potential impacts on Tether's operations and the broader impact on the cryptocurrency landscape.
Tether, one of the leading players in the stablecoin market, has a significant user base and plays an important role in various cryptocurrency transactions.
Therefore, any changes to the terms of service are likely to have repercussions throughout the cryptocurrency community.
*This is not investment advice.