Well, if the government is truly repressive evading capital controls can be considered a good thing.

I am still convinced that most people willingly holding Tether are trying to avoid paying taxes and skirt KYC.

That is the only sane explanation for this insanity.

That's a fair point.

Proof of stake

Point of Sale maybe ...

Proof of Stake, an alternative to Proof of Work where users stake the currency for a chance to become the next validate (the winning miner). If they do anything shady or not allowed their stake is redistributed to the community.

Well, that makes more sense, thnx.