Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Dutch crypto exchange users bemoan additional KYC requirements

Bitstamp traders based in the Netherlands now have even more regulatory hoops to scale before being able to withdraw their funds.

Crypto exchange platform Bitstamp is reportedly demanding additional Know Your Customer compliance steps for Dutch-based users.

According to a notice sent to Twitter user “Bitcoin Marcus,” — a Bitstamp user — the platform says account holders in the Netherlands have until the end of January to provide additional verification documents or risk their accounts being suspended.

As part of the additional KYC protocols, users must provide information about their net worth, nationality and proof of residence. Other documents demanded by Bitstamp include the source of funds — both for fiat and crypto.

Indeed, the exchange is reportedly forcing Dutch-based customers to reveal sensitive personal information like their salaries and investment proceeds.

These KYC steps are in addition to an earlier order mandating users to whitelist their third-party withdrawal addresses by providing photographic proof of ownership of those wallets.

Responding to Bitcoin Marcus’s complaints on Twitter, Bitstamp remarked, “Unfortunately, this procedure is required for our users from the Netherlands due to new regulation regarding cryptocurrencies introduced by the Dutch government.”

For Bitcoin Marcus, however, Bitstamp is bending over backward to satisfy Dutch authorities, especially the central bank, adding that only exchanges headquartered in the Netherlands require these additional KYC compliance steps.

Commenting on customer complaints regarding the KYC policies, Bitstamp chief technology officer David Osojnik told Cointelegraph:

"The solution we’ve implemented for verifying crypto withdrawal addresses is extremely straightforward and as unobtrusive as possible, while still satisfying the requirements set by the Dutch authorities. We do, however, realize that this situation may inconvenience our customers and encourage you to contact your local representatives or the DNB regarding the matter."

Dutch authorities issued new requirements for crypto exchanges back in 2019 with the measures coming into effect in November 2020. As previously reported by Cointelegraph, Bitonic, a crypto exchange in the Netherlands, described the new measures as “a nuisance.”

Requiring users to hand over personal and financial information may also pose a security risk. Centralized databases holding such sensitive data are usually a target for cybercriminals.

Exchanges and other crypto businesses have fallen victim to malicious cyber-incursions exposing user data. Hardware wallet maker Ledger is a prime example with almost 300,000 users having their details compromised by hackers.

https://ift.tt/3orE9AZ
Labels:

Comments

Post a Comment

Popular posts from this blog

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment
Read more

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...
Post a Comment
Read more

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more