Skip to main content

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...
Post a Comment

Binance Deploys Crypto Monitoring ‘Traveler’ System to Comply With FATF Travel Rule

Binance Deploys Crypto Monitoring 'Traveler' System to Comply With FATF Travel Rule

Binance announced yesterday it deployed Ciphertrace’s Traveler system as part of its compliance efforts. Traveler is the first system designed for exchanges to comply with the Travel Rule proposed by the Financial Action Task Force. The exchange would be among the first wave of exchanges implementing this automatic Travel Rule compliance system.

Binance Implements Ciphertrace’s Traveler Protocol in Its Trading Platform

Binance, one of the largest cryptocurrency exchanges in the market, announced the implementation of Traveler, a system that will help them comply with the Travel Rule established by the Financial Action Task Force (FATF). Ciphertrace, a blockchain analytics startup, created Traveler as a third-party compliance platform.

Ciphertrace claims Traveler automatizes the process of complying with FATFs mandate, automatically making connections and identifying different VASPs (Virtual Asset Service Providers). Therefore, exchanges simplify their due diligence burden by implementing it.

As a consequence of this deal, the exchange would be able to detect and identify money launders quickly. For this reason, Samuel Lim, Chief Compliance Officer of Binance, stated:

We are proud to partner with Ciphertrace to deploy their Traveler compliance solution. As always, we are committed to providing a superior product for our users – one that is secure, decentralized, and meets global compliance standards.

Likewise, Ciphertrace’s CEO Dave Jevans also referred to the subject. The CEO stressed:

We are confident that Traveler will help Binance to continue to meet the highest standards for global Anti-Money Laundering compliance.

Regulatory Crackdowns Aimed at the Crypto Industry

According to some reports, this type of tool would appease regulators that are currently investigating crypto exchange activities all over the world. This announcement comes after Binance faced a series of warnings from regulators in several countries. The Japanese cryptocurrency watchdog, the FSA, issued a warning against Binance recently. Japanese regulators state the company has not registered to offer crypto trading services. Similarly, UK regulators also issued a similar warning, stating Binance didn’t have a permit to conduct business in the country.

In the same way, Binance stopped offering its services in Ontario after the Ontario Securities Commission said Binance offered security trading with no authorization. Changpeng Zhao, founder, and CEO of the exchange has repeatedly stated Binance has no headquarters because “it is like Bitcoin”, avoiding answering where the company is based. Consequently, its location has remained a mystery, with some pointing at the Cayman Islands as its possible base.

What do you think about Binance implementing Ciphertrace Traveler? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

Bitcoin breaking new highs in Q4 will ‘temporarily turn alts to dust’ — Analyst

Things will get exciting in quarter four, but not before a convincing floor is put in across crypto, analysts say this week. Bitcoin ( BTC ) was busy losing its overnight gains on Sept. 27 as resistance continued to prove too much for bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst on Bitcoin: “Right now, we’re stuck” Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD dropping to around $1,000 below overnight highs of $44,400 on Bitstamp on Sept. 27.  The move constitutes a rejection at a “critical” zone to break, Cointelegraph contributor Michaël van de Poppe explained, with $42,000 now the key level to hold for a higher low. Bitcoin is acting in an increasingly narrow range, he summarized in his latest YouTube update. “Right now, we’re stuck,” he said, pointing to $47,000 as next should the $44,600 zone be reclaimed. On the downside, the zone between $38,000 and $40,000 remains valid for a bounce, while a co...
Post a Comment
Read more

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more