Skip to main content

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...
Post a Comment

Russia, Ukraine Shut Down Several Cryptocurrency Farms

Russia, Ukraine Shut Down Several Cryptocurrency Farms

Authorities in Russia and Ukraine have closed down a number of illegal crypto mining facilities allegedly powered by stolen electricity. The underground farms have been discovered around the capital cities, Kyiv and Moscow, as well as in the Russian republic of Dagestan.

Russia Busts Illegal Mining Farms in Moscow Region and Dagestan

Russian law enforcement and customs agents have recently uncovered the theft of a large amount of electricity from the network operated by Rosseti in Moscow Oblast, the region adjacent to Russia’s capital. Tass broke the news about the operation this week, quoting Ekaterina Korotkova from the Moscow Interregional Transport Prosecutor’s Office. The official explained:

An audit revealed an unauthorized connection to the power grid, theft of electricity and illegal seizure of land for the operation of equipment designed to perform cryptographic calculations related to the mining of digital currencies.

The cost of the illegally consumed electricity used to power the mining hardware exceeds 500,000 rubles a day (almost $7,000), Korotkova detailed. Authorities have launched a criminal case and intend to prosecute the owners of the coin minting facility.

Two cryptocurrency farms were also busted in Dagestan, a republic of Russia situated in the North Caucasus. In late November, the Komsomolskaya Pravda newspaper reported that a large mining operation had been found in a mountainous region. Preliminary data from the investigation suggests that its unknown operators have caused damages of an estimated 1 million rubles (over $13,000).

Local police have also uncovered a mining enterprise in Botlikh district where miners were connected to the grid without permission. According to a report by Forklog quoting Dagestan’s interior ministry, the crypto farm had been set up since November and run by a 35-year-old resident of Dakhadayevsky district who stole power worth 257,000 rubles (around $3,500).

The law “On Digital Financial Assets,” which went into force in January, regulated some crypto-related activities in the Russian Federation but cryptocurrency mining, among others, isn’t one of them. Calls have been mounting among officials in Moscow this year to recognize the business as an entrepreneurial activity and tax it accordingly.

Underground Crypto Farm Found in Kyiv Region, Ukraine

Meanwhile, the Security Service of Ukraine (SBU) announced Friday it had discovered an illegal mining facility in Kyiv Oblast. According to the main Ukrainian law enforcement agency, three local residents have installed a number of ASICs in a hangar they rented in the Buchansky district of the region bordering the capital. They have allegedly used electrical energy worth 3.5 million hryvnia (more than $128,000).

The rising popularity of cryptocurrencies has turned Ukraine into a leader in adoption in recent years and the government has been taking steps to legalize “virtual assets.” While bitcoin mining is not banned, it isn’t yet regulated. This year, the SBU has been going after miners taking advantage of the country’s electricity supply network, shutting down a number of crypto farms in various regions, including a large data center in central Ukraine last month.

Do you expect Russia and Ukraine to regulate cryptocurrency mining in the near future? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more