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...
Australia’s securities regulator wants crypto firms to work closely with it, but industry executives are unsure of their obligations.
The Australia Securities and Investments Commission, or ASIC, is urging local blockchain and crypto firms to engage with regulators to help them foster innovation in the region.
Speaking at the Australia Blockchain conference on Monday, April 19, senior advisor of strategic intelligence at ASIC, Jonathan Hatch, emphasized the regulator is trying to build trust and collaborate with the crypto economy.
Panelist Kevin Saunders, the CIO of Monochrome Asset Management, stated that while the blockchain sector could do more to understand the ASIC regulatory framework, the commission needs to provide greater clarity as to the industry’s compliance obligations.
Saunders took aim at the opacity of existing regulations, characterizing the industry’s oversight as “too ephemeral for large institutions to engage with it”.
Commenting on the challenges in the sector, National Blockchain Roadmap Lead, Chloe White, agreed that it is challenging for industry stakeholders to keep up with the current regulatory environment.
CEO of digital financial agreements firm Lygon 1B, Justin Amos, added that regulators need to collaborate to support new technologies, rather than seek to stifle emerging industries with heavy-handed regulation.
The Australian government has already been supportive of blockchain projects, having made two grants of up to $3 million available to blockchain teams targeting minerals certification and excise taxation solutions in late March.
In November 2020, the Reserve Bank of Australia (RBA) announced partnerships with the Commonwealth Bank, National Australia Bank, financial services company Perpetual, and Ethereum software firm ConsenSys to explore the potential use of a wholesale central bank digital currency.
In January 2021, Cointelegraph predicted that Australia would be one of the first five nations to launch a CBDC due to its favorable blockchain environment.
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