[rank0]

Even in ANY jurisdiction you’d presumably need a contractual agreement with the issuer. IIRC only certain entities may redeem tether/USDC for cash. You at a minimum need an account! Not like I can just send those companies my tokens and get straight cash.

The whole thing is just asinine. The killer use case for crypto is dodging laws & regulation. Not even judging because that’s REAL utility!

[jgilias]

The vast majority of USDC(T) to cash transactions don’t happen through the redemption mechanism. The redemption mechanism is there for the purposes of holding the peg.