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 Temporary Registrations Regime's end date for crypto companies has been pushed to March 2022.
The United Kingdom’s Financial Conduct Authority (FCA) has extended the end date of crypto-asset companies’ temporary registration from July 2021 to March 2022.
The Temporary Registrations Regime, or TRR, was established last year to enable crypto businesses to continue trading while their registrations were still being assessed by the FCA. With the latest announcement, any crypto companies that applied before Dec. 16, 2020 have temporary registration until March 31, 2022.
After becoming the supervisor of Anti-Money Laundering and Counter-Terrorist Financing measures for crypto companies in the United Kingdom, the FCA obliged all crypto-asset businesses to comply with the country’s AML regulations. The initial deadline for the registration was Jan. 10, 2021.
But since the COVID-19 pandemic made site visits difficult, along with the “the complexity and standard of the applications received,” the FCA announced the TRR and issued temporary registrations to all businesses that submitted an application before Dec. 16. The initial period of the TRR was set to end on July 9, 2021.
The temporary registration is limited to businesses that were active prior to Jan. 10, 2020. New companies require full registration.
According to the announcement, an “unprecedented number of businesses” withdrew their applications due to their substandard operations regarding the Money Laundering Regulations. “The extended date allows cryptoasset firms to continue to carry on business while the FCA continues with its robust assessment,” the announcement reads.
The FCA’s announcement reiterates the risks involved in crypto asset trading, stating that an FCA registration does not guarantee the protection of client assets. The financial regulator issued a warning earlier this year when Bitcoin (BTC) took a dive below $33,000, stressing that investors should be ready to lose all their money while investing in crypto.
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