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

Swiss regulator 'unlikely' to approve Bitcoin Suisse's banking license

But Bitcoin Suisse still has "many options on the table," says the firm's CEO.

Switzerland's Financial Market Supervisory Authority — the country's principal financial regulator — has made an "unfavorable prognosis" regarding Bitcoin Suisse's application for a banking license. 

According to an official announcement on March 17, Bitcoin Suisse's current application is ineligible for approval on the grounds that "various elements that are relevant under licensing law make it unlikely that a license will be granted." As such, Bitcoin Suisse has decided to withdraw its application.

Speaking to Cointelegraph, Bitcoin Suisse CEO Arthur Vayloyan remained optimistic, stating that the firm still has "so many options on the table." He explained that the firm's reputation for cryptocurrency storage and trading has put it in an ideal position as institutional adoption of digital assets grows exponentially. 

Vayloyan explained that since the firm had initially applied for the license in July 2019, the landscape of crypto markets and the firm's position therein has shifted significantly and that Bitcoin Suisse could apply again, should it want. 

Indeed, a banking license could be advantageous as security tokens gain traction.

As Vayloyan explained, in February 2018, FINMA released guidelines for initial coin offerings, under which tokens were divided into three categories: payment, utility and asset, with the latter considered a security. Today, when a firm receives a banking license in Switzerland, it also automatically receives a broker-dealer license. Consequently, a firm with a banking license would be able to engage in the purchase and sale of securities, giving them a leg up in the emerging digital securities space. 

"Under the assumption that the security token market takes off, it would be strategically a pity not to be able to fully participate in that unfolding opportunity and take a share," Vayloyan said.

While FINMA stated that there were apparent weaknesses in "money laundering defense mechanisms" in Bitcoin Suisse's application, Vayloyan stated that the firm is aware of any gaps in this regard, and is working closely with regulators to address them. "We are as transparent to regulators as we can be," he stated. 

Bitcoin Suisse is a crypto broker and intermediary headquartered in Switzerland's canton of Zug, which is dubbed "Crypto Valley" for its preponderance of cryptocurrency- and blockchain-related companies, and progressive regulatory approach towards digital assets.

Earlier this year, Bitcoin Suisse rolled out a payments solution that allows residents of the canton to pay their taxes in cryptocurrency. Projects with local companies and government along with the soaring bull market have grown the firm's workforce by 120 people in the past year. 

https://ift.tt/3lp35ZK
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