On September 25, 2023, news broke that Tether had altered the ToS for its clients in Singapore. How does this news affect the crypto space in Singapore and generally?
We will also examine the effect of this new development on the XRP (XRP) and VC Spectra’s (SPCT) price movements. Finally, we’ll discover which of them is the best crypto investment in the current regulatory landscape.
Summary
- Tether blindsides Singapore’s DeFi protocols with new ToS.
- XRP could reach $0.698 by the end of 2023.
- VC Spectra (SPCT) will reach $0.080 by the end of its public presale.
Tether Alters ToS For Singaporean Users
It is a time of regulatory angst as regulators in the East and West are cracking down on crypto. The latest installment of this battle is in Singapore, where Tether updated its Terms of Service (ToS) to prevent users from that country from redeeming their USDT into USD.
According to the email sent to Cake DeFi, Tether no longer permits “corporates controlled by another entity, directors, and shareholders residing in Singapore” to be its customers.
Crypto enthusiasts are most confused with the meaning of “corporates controlled by another entity” as it is open to interpretation. However, some people are already conducting business with other stablecoins because they cannot trust Tether.
Tether’s New Rules Have No Effect On The XRP Crypto Price
Since the news broke, the XRP crypto price has remained stable at around $0.502. XRP has also had its fair share of regulatory trouble when the US Securities and Exchange Commission sued Ripple, its Chief Executive Brad Garlinghouse, and co-founder and Chairman Chris Larsen in December 2020. The SEC accused them of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP.
As of today, the case is still in court. However, a preliminary ruling said Ripple complied with federal securities law when selling XRP.
According to analysts’ XRP price prediction, XRP crypto price could reach $0.698 by the end of 2023 if Ripple defeats the SEC’s appeal against the preliminary ruling.
VC Spectra (SPCT) Forges Ahead Despite Regulatory Hurdles
VC Spectra (SPCT) has remained unaffected by Tether’s decision to exclude Singapore residents from converting their USDT to USD. Currently at Stage 3 of its public presale, the VC Spectra (SPCT) token is still set to increase by 33.33% from $0.033 to $0.044 at Stage 4.
Overall, the platform has defied all odds due to its incredible utility. VC Spectra (SPCT) is a decentralized investment and trading platform that provides a secure, transparent, and profitable investment experience. Users can invest in new DeFi projects, niche markets, arbitrage trading, and yield farming with VC Spectra (SPCT).
However, you have to purchase the VC Spectra (SPCT) tokens to access these features. They currently cost $0.033. Someone who buys SPCT tokens now will benefit from a 142.42% surge when the price reaches $0.080 at the end of the presale.
Analysts say that beginners considering what crypto to invest in during this period of regulatory hassles should choose VC Spectra (SPCT).
To learn more about VC Spectra (SPCT), visit:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
Disclaimer: This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
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