Terra’s new blockchain successfully launched on mainnet and started generating blocks over the weekend. The new blockchain is aiming to revive the Terra ecosystem without the UST algorithmic stablecoin after its fall from grace.

The Russian Ministry of Finance has revised its draft law “On Digital Currency” to reflect various suggestions, with the amendments adding a provision allowing legal entities and individual entrepreneurs to use cryptocurrencies for payments with foreign counterparties.

Elon Musk’s space exploration company SpaceX is set to start accepting Dogecoin payments for merchandise purchases, merely four months after Musk’s electric vehicle maker Tesla started accepting DOGE.

Top stories in the Crypto Roundup today:

• Terra’s LUNA 2.0 Blockchain Goes Live
• Provision Allowing Companies to Use Crypto in Foreign Trade Added to Russian Bill
• SpaceX to Start Accepting Dogecoin Payments for Merch

Terra’s LUNA 2.0 Blockchain Goes Live

Terra’s new blockchain successfully launched on mainnet and started generating blocks over the weekend. The new blockchain is aiming to revive the Terra ecosystem without the UST algorithmic stablecoin after its fall from grace.

Following the collapse of both LUNA and UST, the core development firm behind Terra, Terraform Labs, proposed a new blockchain that was quickly approved by the wider community.

Several decentralized applications including Prism, RandomEarth, Nebula, Terraswap, Edge Protocol, and others have now migrated to the new chain. After the launch of the new chain, the original network is now called Terra Classic, with its tokens being LUNA Classic (LUNC).

The new chain’s LUNA has a fixed total supply of 1 billion tokens, which trade separately from the original LUNA Classic, which saw its supply balloon to 6.5 trillion after UST’s collapse.

Terra stakeholders on the Classic chain can now claim 30% of the LUNA 2.0 token supply, with the amount each entity gets depending on whether their tokens were held before or after the crash. Up to 70% of LUNA 2.0’s supply will be airdropped over time to holders of the classic token.

The remaining 30% of the tokens will be allocated to Terra’s community pool, an on-chain treasury fund controlled by Terra governance to fund development activities.

Provision Allowing Companies to Use Crypto in Foreign Trade Added to Russian Bill~

The Russian Ministry of Finance has revised its draft law “On Digital Currency to reflect various suggestions, with the amendments adding a provision allowing legal entities and individual entrepreneurs to use cryptocurrencies for payments with foreign counterparties.

The amendments were coordinated with the ministries of economy, digital development, internal affairs, the Federal Tax Service, and Rosfinmonitoring, Russia’s financial watchdog. The Central Bank of Russia is absent from the list, as it remains opposed to the legalization of cryptoassets.

Russian authorities seemingly agree digital assets should not be accepted as legal tender in the country, with the law proposing a ban on the use of these assets as a payment method and instead recognizing them as an investment tool.

The law also proposes a ban on advertising cryptocurrency trading platforms that aren’t licensed to operate in Russia, among other things.

SpaceX to Start Accepting Dogecoin Payments for Merch

Elon Musk’s space exploration company SpaceX is set to start accepting Dogecoin payments for merchandise purchases, merely four months after Musk’s electric vehicle maker Tesla started accepting DOGE.

Musk is a vocal supporter of the meme-inspired cryptocurrency. Late last year, he said he  believes the cryptocurrency is better for transactions than other cryptoassets like Bitcoin (BTC). Musk added that bitcoin’s transaction volume is low while its cost per transaction is high, making it more suitable as a store of value. Being a store of value means investors want to hold onto their BTC and not sell it or move it in transactions.

Tesla has invested $1.5 billion in the flagship cryptocurrency and sold around 10% shortly after doing so, HODLing the rest until now.

On Tesla’s Dogecoin support page, the firm clarifies how to use the cryptocurrency and what to expect using it. Tesla notes that customers who send the wrong amount of DOGE to its address may see their orders get canceled, and adds that if an order is overpaid in the cryptocurrency the “overpayment amount will not be refunded to the original form of payment.”

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