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...
France has proposed giving more power to the Paris-based European Securities and Markets Authority (ESMA) and making it responsible for cryptocurrency oversight. French regulators say cryptocurrencies need EU-wide regulation.
EU-Wide Crypto Regulation With ESMA as Main Supervisor
France proposed Tuesday that the EU governments give the responsibility of regulating cryptocurrencies to the pan-European markets watchdog, the Paris-based European Securities and Markets Authority (ESMA), instead of national regulators, the Financial Times reported.
The French markets regulator, Autorité des Marchés Financiers (AMF), has also called for more regulatory power to be granted to the ESMA to regulate the crypto industry more effectively. The AMF said:
Granting ESMA the power of direct supervision of public offers of cryptoassets in the EU and of cryptoasset service providers would create obvious economies of scale for all national supervisors and concentrate expertise in an efficient way, for the common European benefit.
The AMF’s proposal was part of a wide-ranging package of reforms intended to strengthen financial regulation across Europe.
Under the AMF’s proposal, ESMA will also supervise clearinghouses, bourse operators, and non-financial data and ratings.
In addition, French authorities also want new supervisory tools to be given to ESMA, such as “no-action letters” used by U.S. regulators to provide guidance on interpreting financial rules. The French regulator added:
The EU should seriously consider a shift towards a truly centralized supervision of certain categories of entities and activities.
What do you think about France calling for EU-wide crypto regulation with more power to ESMA? Let us know in the comments section below.
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