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Is crypto finally recovering?

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The price of collapsed cryptocurrency Luna skyrocketed over the weekend, only days after falling to zero

April saw Luna trading at about 100 dollars per Luna, but the crash had a ripple effect on the stable coin UST.

The changing algorithm pushed Bitcoin’s price down by over 20 per cent.

UST and Luna are now working together on plans to revive the two companies, causing the Luna price to surge over one thousand per cent.

The Chief Executive of UST says they “must reconstitute the chain to preserve the community and the developer ecosystem”.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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This move is set to boost Australia’s crypto gains

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Coinbase is coming down under, in a major boost for the country’s crypto gains

The crypto platform is calling the country “a priority market”.

It will add its local payments platform so Australians can transfer dollars into their Coinbase account.

There will also be advanced trading tools and better pricing.

Users will also receive 24 hour support, where they can ask all about their accounts and concerns.

The exchange is registered with a local regulator to provide its digital currency exchange services.

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Europe cracks down on crypto tax

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In a major development, the European Parliament has voted in favour of a coordinated and fair tax system for crypto-currencies

Around 80 per cent of lawmakers voted to start using blockchain tech to create a more robust way of stopping tax evasion

Only seven voted against the resolution, with 47 absent for the vote.

Europe has had crypto reform high on its agenda.

Lawmakers want crypto-users to be subjected to a fair and transparent taxing system.

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Government-backed crypto could threaten the U.S. economy, report finds

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Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

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