Tether

USD-referenced token

Fragmented coverage

USD-referenced token whose public reserve evidence is a dated attestation. Not treated in the RCA file as a MiCA-authorised EMT. Widely used as market infrastructure; that usage is not a legal characterisation.

Rights: Terms of service and token terms, as published, describe the claim. They should not be read as equivalent to e-money redemption rights under EU law without an EMT authorisation in the file.
Custody & safeguarding: Reserves described in attestations as of a date, across a mix of assets. Composition is an as-of fact.
Transfer restrictions: Technical transfer is broad; issuer blacklists and venue restrictions are operational facts that change.

What this proves

This profile restates public documents about the instrument as of the cited review dates.

What it does not prove

It does not rank the asset, estimate depeg risk, or advise anyone to hold, redeem or use the token.

RCA publishes source-linked intelligence for professionals. Nothing here is a token-buying call, a legal opinion, or an “approved / safe / regulated” badge. Every material claim is dated. Incomplete files stay incomplete.