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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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Lead Republican behind infrastructure bill negotiations supports crypto amendment

The senator's stance is somewhat surprising given he has previously called the section on brokers in the proposed bill a “common-sense provision.”

Senator Rob Portman, one of the lead Republican voices for negotiations over an infrastructure bill in the U.S. Senate, said he supports an amendment clarifying the intent of a cryptocurrency provision.

In a Tweet today, Portman encouraged his colleagues in the Senate to vote on an amendment proposed this week by Ron Wyden, Cynthia Lummis, and Pat Toomey which suggests striking the definition of brokers in the infrastructure bill to no longer include developers, miners, or blockchain firms in the crypto space.

The senator’s stance is somewhat surprising given he has previously supported the language used in the bill, saying on Aug. 3 that the legislation “does not impose new reporting requirements on software developers, crypto miners, node operators or other non-brokers” and calling the section on brokers a “common-sense provision.” Ted Cruz, the junior senator from Texas still under scrutiny for his alleged role in the Jan. 6 attack on the U.S. Capitol, also reportedly put forth an amendment to strike the provision.

The bill, HR 3684, includes funding for roads, bridges and major infrastructure projects, as well as proposes implementing tighter rules on businesses handling cryptocurrencies, expanding reporting requirements for brokers, and mandating that digital asset transactions worth more than $10,000 are reported to the Internal Revenue Service. Majority leader Chuck Schumer is reportedly planning to attempt to keep the Senate in session — the government body is scheduled to be in recess from Aug. 9 — to vote on key amendments.

While the intent behind the bill seems to require crypto exchanges to report certain transactions, many lawmakers and opponents to the legislation immediately criticized the language, implying reporting requirements could potentially be extended to developers, node operators and miners.

Related: Ohio senator wants clarity for crypto tax reporting in proposed bill

According to digital rights advocacy group Fight for the Future, more than 9,000 activists have called to voice their support of the amendment proposed by Wyden, Lummis, and Toomey. Industry membership body Global Digital Finance also said they would also welcome the clarifying language, noting 114 signatories from the crypto and blockchain space had attached their names to a letter expressing support for the amendment.

Jeff Bandman, a board member of Global Digital Finance, said:

“Assuming the amendment is approved, it would serve to raise revenues from appropriate actors, promote regulatory certainty and allow innovators to continue to develop new financial products, many of which could enhance financial inclusion in the U.S., without fear of unwarranted tax liabilities.”

The amendment would require 60 votes to be added to the legislation. With Portman's support, the amendment may be more likely to receive Republican votes in a U.S. Senate split evenly along party lines.

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