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...
The Reserve Bank of India is getting ready to launch its own central bank digital currency.
Indian authorities continue to express support for a government-backed digital currency to replace privately-issued cryptocurrencies.
According to Bloomberg, RBI governor Shaktikanta Das has expressed the central bank’s determination to create a digital rupee. According to Das, India’s central bank is “very much in the game” and wants to emulate China’s digital currency electronic project, the digital yuan.
The RBI chief also revealed that the digital rupee project is a major focus for the central bank. While there has been no official release date for the proposed CBDC, Das said that the RBI is currently finetuning the technological and procedural protocols of the sovereign digital currency system.
As part of the interview, Das maintained the RBI’s anti-crypto stance expressing concerns that cryptos are a threat to India’s financial stability.
According to Das, the RBI has reported these concerns to the authorities in government and could shape incoming crypto regulations.
As previously reported by Cointelegraph, speculation is rife of an incoming blanket ban on cryptocurrencies with crypto holders given a transition period to liquidate their virtual currency assets.
Promoters of initial public offerings have reportedly begun issuing affidavits stating that they will sell their crypto assets within 24 hours of a government ban.
Crypto stakeholders in India are once again having to make the case for their industry in the face of government opposition. Back in March 2020, the Supreme Court reversed the RBI’s earlier ban on commercial banks servicing crypto exchanges.
Earlier in February, former Coinbase chief technology officer Balaji Srinivasan panned the rumored crypto ban. According to Srinivasan, banning cryptos would be akin to prohibiting the “financial internet.”
However, government authorities are not the only anti-crypto elements in India. Recently, billionaire investor Rakesh Jhunjhunwala, dubbed the “Indian Warren Buffett” called for a cryptocurrency ban adding that the RBI should prioritize the creation of a digital rupee.
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