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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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India Reportedly Investigating Binance in Chinese Money Laundering Case

India Reportedly Investigating Binance in Chinese Money Laundering Case

Indian authorities are reportedly investigating cryptocurrency exchange Binance in connection with an ongoing Chinese money laundering case that raked in more than 10 billion rupees ($134 million).

Binance’s Regulatory Troubles Continue

India is reportedly investigating whether the global cryptocurrency exchange Binance had any role in a Chinese money laundering scheme involving betting apps, local media reported Friday, citing people with knowledge on the matter.

The country’s Enforcement Directorate (ED), a law enforcement agency under the Ministry of Finance, has summoned Binance’s executives for questioning, according to the people who asked not to be identified as the matter is still under investigation.

The case centers around betting apps run by Chinese operators. They allegedly raked in more than 10 billion rupees over the past 10 months. They were suspected of laundering part of the money through local Indian crypto exchange Wazirx, which was acquired by Binance in 2019.

Responding to the news, Binance said in a statement:

We did not receive any summons in June or July of this year. As per available info in the public domain, the summons was directed to only Wazirx.

The exchange continued: “We work closely with regulators, law enforcement and industry leaders around the world to further the security and sustainability of the industry while providing the best services and protection to our users.”

A growing number of regulators worldwide have warned Binance about operating in their jurisdictions without being authorized. They include regulators in Malaysia, Japan, the U.K., Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania.

Commenting on mounting regulatory scrutiny, Binance’s CEO, Changpeng Zhao, said that the company is looking for a CEO with a strong compliance background and Binance wants to be licensed everywhere and become a financial institution.

What do you think about India investigating Binance and other regulators warning about the exchange? Let us know in the comments section below.

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