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...
Herman Neglyad, the deputy of the Russian anti-money laundering body, Rosfinmonitoring, has said his organization will monitor cryptocurrency transactions that involve the conversion from crypto to fiat. Neglyad made this revelation during a recent meeting of the State Duma Committee on financial markets.
Banks Already Cooperating
According to a Russian news site, Regnum, the anti-money laundering body is already getting cooperation from banks.
“Banks have already begun to pay attention to exchange operations, that is, when they see that an operation has come after the exchange of virtual assets for hard currency, they have already begun to evaluate them and actually inform us about these operations,” said Neglyad.
Also, the Rosfinmonitoring official adds that his organization, alongside the country’s central bank will introduce “a separate code, distinguishing a separate group of such suspicious transactions, that is, to further orient traditional financial institutions to this problem.”
Meanwhile, Neglyad’s remarks about Russia’s intention to monitor crypto to ruble transactions follow recent comments by the country’s President, Vladimir Putin. As reported by Bitcoin.com News, President Putin has voiced his concern over what he termed “illegal cross-border transfers of cryptocurrencies.” The Russian leader adds that criminal elements were “increasingly using these digital financial assets, and this justified increased monitoring.”
Russia’s Push to Regulate Cryptocurrencies
Over the past few years, the Russian nation-state has grappled with the question of how to regulate cryptocurrency use in the country. In September 2020, the country proposed harsh penalties for individuals that fail to disclose cryptocurrency holdings in excess of a certain threshold. In February 2021, Bitcoin.com News reported that a bill recognizing cryptocurrencies as the property had advanced in the Russian parliament.
In the meantime, it is not clear if Neglyad’s remarks are linked to President Putin’s earlier comments. However, the Regnum report says the State Duma Committee meeting at which Neglyad spoke had been held “in preparation for the report of the Russian government.”
What are your views on Rosfinmonitoring’s proposal to monitor cryptocurrencies? You can share your thoughts in the comments section below.
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