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...
The chairman of Italy’s financial regulator has raised concerns over the cryptocurrency market without proper regulation. “Without proper oversight there could be a worsening in market transparency, the basis of legality and rational choice for (market) operators,” he said.
Chairman of Italy’s Securities Regulator Sees Issues With Unregulated Cryptocurrency Market
The chairman of the Commissione Nazionale per le Società e la Borsa (Consob), Paolo Savona, voiced concerns regarding cryptocurrency Monday. Consob is the government authority of Italy responsible for regulating the Italian securities market. He said as he presented the watchdog’s yearly report:
Without proper oversight there could be a worsening in market transparency, the basis of legality and rational choice for (market) operators.
The Consob chairman noted that there are some 4,000-5,000 cryptocurrencies in circulation without any form of real regulation.
He further opined, “If we add to this Consob’s recent own experience in closing down in Italy hundreds of websites illegally gathering savings, the picture that emerges is worrying,” elaborating:
If it takes too long at a European level to come up with a solution, (Italy) will have to take its own measures.
Savona also warned that cryptocurrencies could be used in criminal activities, such as tax evasion, money laundering, funding terrorism, and kidnapping.
A number of lawmakers worldwide have voiced similar concerns as Savona, including the president of the European Central Bank (ECB), Christine Lagarde, who previously said cryptocurrencies were largely used in illicit activities, particularly money laundering.
What do you think about the comments by the Consob chairman? Let us know in the comments section below.
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