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...
The moved surprised some users as ADA has not been typically on regulators' radars as of late.
In a statement released to customers on Tuesday, Israeli cryptocurrency exchange eToro announced it would delist Cardano (ADA) and Tron (TRX) for United States customers by the end of the year.
After Dec. 31, U.S. users will no longer be able to open new positions in the tokens nor stake ADA and TRX. In addition, wallets will be effectively in withdraw-only mode until the first quarter of 2022, when selling will also become limited. In making the decision, eToro cited regulatory concerns surrounding both assets.
The move came as a surprise to some as ADA has not been traditionally associated with regulatory troubles. In context, tokens like Ripple (XRP), whose creators are currently engaged in an ongoing lawsuit with the Securities and Exchange Commission, or SEC, as well as Monero, which is a privacy coin that some fear is easily abused for illicit purposes, are facing the brunt of regulatory scrutiny in the cryptocurrency industry.
ADA experienced a rapid price increase this year and currently ranks among the top 10 cryptocurrencies by market capitalization. During the prior quarter, Charles Hoskinson, Cardano's founder, announced a partnership with blockchain analytics provider Confirm to comply with regulatory frameworks, such as anti-money laundering directives. The move was panned by some ADA supporters, who wanted the project to take on a more decentralized nature.
Firms operating in the blockchain industry often receive intense pressure from regulators when it comes to delisting coins or pulling the plug on certain services. In Sept., Coinbase abandoned its crypto lending platform plans after the SEC threatened to sue the company. For now, however, the rise of decentralized exchanges and decentralized finance protocols have provided popular alternatives for those looking to legally bypass such crackdowns.
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