Due to the failure of Terra Luna -following now faster regulations?

Digital Asset News

The validators of the Terra blockchain have jointly decided today (Thursday) to stop all network activities due to the massive crash of the associated cryptocurrency LUNA.
Terra’s official Twitter account has already confirmed that the network has now stopped at block 7,603,700. This move possibly marks the dramatic end after the project’s own cryptocurrency LUNA and its related stablecoin TerraUSD (UST) have seen an unprecedented implosion of one of the biggest projects ever in the last two days.
So after the crash of more than 99%, operator Terraform Labs is now pulling out all the stops to keep the project alive. Before the drama surrounding Terra (LUNA) ran its course, the project was still the shooting star of the crypto industry until last week, having catapulted into the top 10 in no time at all. UST had even advanced to 3rd place among stablecoins, with only market leaders Tether (USDT) and USD Coin (USDC) ahead.
Here it becomes clear that risk management, suitable exit strategies, as well as own research and examination of topics are of elementary importance for long-term success. It is highly unlikely that Luna will recover from this blow – recouping a 99% loss has not happened in the digital asset space before.

The Federal Ministry of Finance finally publishes the long-awaited letter on taxation of cryptocurrencies and tokens. The 24-page document provides legal definitions and tax classifications for virtual currencies and tokens, mining, staking, lending, airdrops, wallets, masternodes, hard and soft forks, and ICOs.
The regulatory letter does not constitute a law as it has not been passed by the Bundestag or Bundesrat, nonetheless it has a legal character. Crypto assets are considered economic assets for tax purposes in Germany.
The gains from exchanges in fiat currencies such as Euro or US Dollar and in another cryptocurrency, for example, Bitcoin (BTC) or Ether (ETH) fall under private sales transactions and are subject to a personal tax rate plus church tax, if applicable. The extension of the holding period from 1 year to 10 years when using cryptocurrencies for staking and lending will not be implemented. The new BMF letter is now “binding for all tax offices throughout Germany,” and is “a very good and important step” toward innovation and legal certainty, according to Werner Hoffmann, co-founder of Pekuna, a firm specializing in crypto tax law.

FTX, has acquired a significant 7.6% stake in popular stock and crypto trading platform Robinhood.
The news of “SBF’s” entry has seemingly created a buzz in the stock market, as shortly after, Robinhood’s share price surged by a whopping 30%, before later settling at an average gain of 24%.
According to official documents released by the U.S. Securities and Exchange Commission this week, Bankman-Fried acquired a total of $648 million worth of Robinhood company shares at an average price of $11.52.
This is welcome news for digital assets, as Robinhood’s stock has come under heavy pressure in recent months. This clearly shows that there continues to be strong interest in merging traditional and modern trading methods.

Norway has now made a quasi-final decision to legalize the mining of cryptocurrencies, as the Norwegian parliament rejected a corresponding ban proposal by a majority vote this week.
The planned mining ban, which was entered as a bill by the Red Party, Norway’s communist party, in March, was overwhelmingly rejected by the Norwegian parliament this week. In this regard, Jaran Mellerud, an analyst at Arcane Research, tells Countelegraph that “these parties could not use it to enforce a far-reaching ban on Bitcoin mining.” To this, the expert adds:
“Since they lost this vote, the parties in question will probably try to get their way after all via an increase in the energy tax specifically for miners. Because that’s the only political tool they have left now.” Regardless of these efforts, crypto mining is already flourishing in Norway, with the Scandinavian country already accounting for 1% of Bitcoin’s global hashrate, largely due to the fact that mining companies here have particularly good and cheap access to renewable energy.