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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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Turkey Drafting Crypto Regulation — Central Bank Says No Intention to Ban Cryptocurrencies

Turkey Drafting Crypto Regulation — Central Bank Says No Intention to Ban Cryptocurrencies

The Turkish government is reportedly creating a regulatory framework for cryptocurrencies after two crypto exchanges in the country abruptly halted trading and are now being investigated for fraud. The government is reportedly planning to establish a central custodian bank among other initiatives.

  • The Turkish government is working on cryptocurrency regulation. Bloomberg reported on Tuesday that “The government is planning to establish a central custodian bank to eliminate counterparty risk,” citing a senior official familiar with the plans.
  • The Treasury & Finance Ministry, Capital Markets Board and financial crimes watchdog Masak are involved in establishing the crypto framework, the publication conveyed, adding that its preparations are expected to be completed within a few weeks.
  • Other than creating a central custodian bank, the Turkish authorities are also considering imposing a capital threshold for crypto exchanges and education requirements for executives at those companies.

  • Furthermore, the governor of the Turkish central bank, Sahap Kavcioglu, confirmed last week in an interview with local broadcasters, Kavcioglu, that the country’s Finance Ministry is working on wider regulations regarding cryptocurrencies. The governor added that the bank does not intend to ban cryptocurrencies. The central bank, however, recently banned the use of cryptocurrencies as a means of payment.
  • Following the central bank banning cryptocurrencies for payments, two Turkish crypto exchanges abruptly halted trading. Thodex and Vebitcoin are now being investigated for fraud. Sixty-two people have been detained in connection with Thodex and four people are detained in relation to Vebitcoin.

What do you think about Turkey drafting crypto regulation? Let us know in the comments section below.

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