LUNA is a blockchain used for launching algorithmic stable coins and is now among the top DeFi platforms when it comes to total value locked up in circulation. LUNA has been trending higher over the last few days, but it gained even more momentum over the previous 48 hours. By closing 40% greater, LUNA was among this past week’s biggest gainers. Related Reading | Bitcoin Surges to $40,000 After Breaking Key Resistance The news that Luna Foundation Guard (LFG) created a Bitcoin-denominated reserve has caused markets to react positively. This will act as an extra layer of stability and security for Terra USD, which is currently struggling with sharp fluctuations in prices due to its low liquidity status on exchanges. LFG has announced that it will be investing $1 billion towards building up its Bitcoin reserves. The best part about this news? All of LFs’ coins are locked for 4-years, which means they won’t be able to trade until after those periods. This increases investor confidence across multiple platforms, including LUNA, with demand rising accordingly. Because investors look for safe-haven assets during these uncertain times. The recent move by the US Treasury to create a Bitcoin reserve is being met with rave reviews from analysts and experts. As a result, this new development should lower price fluctuations for UST. The Mechanism  UST is a stablecoin fixed to the US dollar via an algorithm. Unlike other centralized cryptocurrencies, it isn’t backed by anything but Luuna (the company behind them). If prices fall off their peg and go lower than $1 per token, UST can be swapped for LUNA (which is minted). And can be sold for $1, providing arbitrage gains for investors. The opposite happens when demand increases; burning more luna means higher prices because there’ll be less overall supply coming into circulation. Terra’s introduction of a Bitcoin reserve could be seen as the next important step in reducing volatility within its ecosystem. This is because it reduces the correlation between UST and bitcoin.  This means that if traders want to swap out their coins for different assets, they will have plenty available with this new addition. Is It Worth Buying LUNA Now? LUNA’s price has been on an upward trend recently, and it was trading at $74.34 on February 26th, 2022. The coin increased13% in 24 hours. Related Reading | Cryptocurrency Prices Soar On Possibility Of Russia-Ukraine Talks LUNA is currently trading just below the $77.17 weekly support level, with a strong uptrend since February 24th. So keep an eye on this one – it might be time to buy more shares before they climb higher in future updates. If you’re looking to invest in crypto, buying volumes increase, and Luuna is a good bet. The altcoin has been pushing through recent resistance levels with ease. In fact, it could test prices above $90 before the end of February. With LUNA currently trading in a strong uptrend, the crypto is not too late to turn bearish. If this happens, investors should look out below $65 as support, which could signal an upcoming downtrend may be near. Featured image from Flickr, Chart from TradingView.com

Russian financial institutions have been suffering heavily from the sanctions imposed by the West. Apple has joined the list of global institutions severing ties with [...]

In light of the United States’ sanctions against Russian banks, ApplePay is no longer supporting users of cards issued by the institutions. 

Bitcoin price decline to lows of $10,000 by next year amid Federal Reserve monetary…

The post 3 macro factors could push Bitcoin to $10,000 by 2023, says Stifel strategist appeared first on Coin Journal.

Progress on a digital USD brings CBDC standards into focus Written by: Simon Chantry, Co-Founder & CIO, Bitt

The post The Fed’s Digital Dollar Is Taking Shape appeared first on Crypto-News.net.

The Depository Trust & Clearing Corporation (DTCC), a leading post-trade market infrastructure for the global financial services firms, has announced the launch of DTCC Treasury Kinetics today.

Crypto miners and stakers will not be subject to the IRS reporting rules in the US, given that they comply with applicable regulations.  Earlier, the rules mandated crypto brokers to share data regarding their clients’ digital asset transactions with the IRS. Whether this applies to other market participants as well has been in a gray […]

The post The US Treasury Spares Crypto Miners And Stakers From Tax Reporting Rules appeared first on CryptoCoin.News.

Brokers must gather extensive information on their clients and their trades. The Department aims to submit draught regulations outlining its

The post has appeared first on thenewscrypto.com

"Persons who are just validating transactions through a consensus mechanism are not likely to know whether a transaction is part of a sale," according to the Treasury.

The post US Treasury reiterates that the IRS won’t consider crypto miners, stakers or coders to be brokers appeared first on The Block.

Algorand has appointed former JPMorgan high-flyer Staci Warden as its new CEO. Warden has been a member of the Algorand Foundation Board since September 2021 following a glittering career with JPMorgan, the Nasdaq stock exchange, and the US Treasury Department.

The growing popularity of digital artworks as highly valued non-fungible tokens (NFTs) is now a major financial red flag as the United States Treasury Department believes they could be a vital tool for money laundering. (Read More)

The U.S. treasury department has warned that non-fungible tokens (NFTs) may present new illicit finance risks. According to industry estimates, the NFT market could reach $35 billion in 2022 and more than $80 billion by 2025. NFTs May Present Illicit Finance Risks The U.S. Department of the Treasury announced Friday the release of a “study […]