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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...
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India's crypto ban is coming, hodlers to be given transition period: Bloomberg

An anonymous Indian official has claimed the country’s parliament will soon introduce a blanket bank on crypto assets, and give hodlers three-to-six months to liquidate.

An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country.

Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under a new law expected to soon be introduced in the parliament. Transacting with crypto via foreign exchanges will also be prohibited.

Crypto investors are expected to be given a three-to-six month transition period to liquidate their holdings after the new law comes into effect, the source said.

The official emphasized that crypto assets have been targeted by India’s lawmakers due to their lack of backing from the Reserve Bank of India, or RBI.

In January, India’s parliament introduced 'The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' for discussion during the ongoing parliamentary sessions on the country’s budget.

The Bill’s purpose was described as creating a facilitative framework for a central bank digital currency issued by the RBI, and to “prohibit all private cryptocurrencies in India.”

Sathvik Vishwanath, the co-founder and CEO of major Indian cryptocurrency exchange Unocoin, told Bloomberg the local crypto industry are anxiously “waiting for details to come out to determine [their] next course of action:”

“If government goes ahead with banning all cryptocurrencies, except the one backed by the state, it will not make sense to continue our business in India. But we’ll have to wait and watch.”

In March 2020, India’s Supreme Court overturned the RBI’s April 2018 blanket ban on local banks providing services to businesses dealing with crypto, effectively legitimizing cryptocurrency companies across the country.

However, the Indian Ministry of Finance proposed legislation that would again ban crypto assets nation-wide in June 2020.

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