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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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Turkish government to track crypto transactions over $1,200

Turkey's Minister of Treasury and Finance sheds light on regulatory actions following an alleged $150 million crypto exchange scam.

Crypto exchanges with a presence in Turkey must now inform the Financial Crimes Investigation Board, or MASAK, about any crypto transactions over 10,000 Turkish liras ($1,200). 

Turkish Minister of Treasury and Finance Lütfi Elvan announced the new policy on a CNN Turk live broadcast last night. 

Two weeks after a $150 million fraud involving a major crypto exchange in Turkey, Elvan shared updates on the government’s draft crypto regulation on live TV. Turkey’s central bank has defined crypto as a nonmonetary asset and banned the use of cryptocurrency as a form of payment. 

Elvan noted that the second step was to grant MASAK, Turkey’s Financial Action Task Force cooperative, the authority to audit and oversee crypto exchanges.

According to Elvan, MASAK has prepared a guideline for crypto exchanges that includes the rules and penalties for reporting transactions. 

“MASAK has full audit authority over crypto exchanges,” Elvan said, “Crypto trading platforms are now obliged to share the information of their active users with MASAK. They are liable for any suspicious activities on their platforms. They are also responsible for notifying MASAK about any transactions worth over 10,000 Turkish liras in ten days after the trading.”

Elvan announced that a legal draft has been prepared in cooperation with the Banking Regulation and Supervision Agency (BDDK), Capital Markets Board (SPK) and Revenue Administration under the presidency of the Deputy Minister, as Cointelegraph reported last month. 

According to Elvan, opinions from local experts and crypto exchange representatives were also taken during the study. The final draft will be soon ready for approval by President Recep Tayyip Erdoğan, he added.

In April, Cointelegraph reported that Turkish police detained 62 people following the Thodex crypto exchange fraud. According to the local experts, Turkey needs a clear regulation and fair taxing regarding crypto to avoid further victimization of local crypto users. 

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