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...
Faster Payments is no longer an option for Binance customers in Britain amid increasing regulatory pressure.
Binance’s U.K. customers are currently unable t use the popular local payments provider, Faster Payments, to withdraw British pounds (GBP) from the exchange.
On Monday, June 28, a notice on the Binance website declared that GBP withdrawals via Faster Payments had been “suspended for maintenance,” according to the Financial Times.
Faster Payments is a payment provider used by major banks to process near-instant payments. It has become one of the preferred channels for moving fiat currencies to and from the Binance exchange.
According to the report, U.K. users can still use traditional methods such as bank cards to move money from the exchange. However, the exchange acknowledged that the suspension of Faster Payments presents a significant hurdle.
The move follows a June 27 order from the U.K.'s Financial Conduct Authority (FCA) demanding Binance cease all regulated activities in the country following a review of its operations.
Related: Binance served warning by Japan’s FSA for operating without authorization
“Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” said the FCA’s letter, noting that no other entity in the Binance Group holds any of the necessary permits to operate in the United Kingdom.
On June 28, the exchange countered that Binance Markets Limited is “a separate legal entity and does not offer any products or services via the Binance.com website,” adding: “The FCA UK notice has no direct impact on the services provided on Binance.com.”
Binance launched its U.K. trading platform for institutional and retail investors under the supervision of the FCA in June 2020.
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