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RE: RED ALERT - Mt. Gox 2.0 Brewing - Bitfinex May Be Issuing Unbacked Tether To Paper Over Banking Service Loss - What We Think We Know (Part 1)
There are possibly numerous 'rules' being broken somewhere along the line, yes - but I am not familiar enough with the contracts involved and the legislation that is relevant (or even which jurisdiction applies) to comment with any sense of accuracy!