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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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Binance’s Troubles Grow as Thailand Files Criminal Complaint — Similar Warnings by Cayman Islands, UK, Japan

Binance's Troubles Grow as Thailand Files Criminal Complaint After Warnings by Cayman Islands, UK, Japan

A growing number of regulators worldwide have come after Binance. Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the crypto exchange after the authorities in the Cayman Islands, the U.K., and Japan issued similar warnings on Binance and related companies.

Thailand’s Regulator Files Criminal Complaint

The Thai Securities and Exchange Commission announced Friday that it “has filed a criminal complaint against Binance … with the Economic Crime Suppression Division of the Royal Thai Police (ECD).” According to the SEC:

Binance has solicited the Thai public and investors to use its services, either via its website or Facebook page: Binance Thai Community.

The securities regulator stated that it issued a warning letter to Binance on April 5 but the company failed to submit a response within the specified time.

The SEC said that Binance is operating a crypto exchange business without a license. The company is therefore “liable to criminal sanction under Section 66 of the Digital Asset Businesses Emergency Decree, i.e., imprisonment for a term of two to five years and a fine of 200,000 to 500,000 baht and a further daily fine not exceeding 10,000 baht for every day during which the contravention continues.”

Cayman Islands Warns About Binance

The Cayman Islands Monetary Authority (CIMA) published a notice on its website Thursday stating that Binance is not authorized to operate a crypto exchange in the country. The notice reads:

Binance, the Binance Group and Binance Holdings Limited are not registered, licensed, regulated or otherwise authorised by the authority to operate a crypto-currency exchange from or within the Cayman Islands.

CIMA emphasized that companies incorporated in the Cayman Islands must either be “registered or licensed in accordance with the Virtual Asset (Service Providers) Act, 2020 “ or be “an existing regulated entity that has been granted a waiver by the authority.”

Recently, two other regulators issued warnings on Binance: the U.K.’s Financial Conduct Authority (FCA) and Japan’s Financial Services Agency (FSA).

What do you think about so many regulators coming after Binance? Let us know in the comments section below.

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