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Australia to Boost Crypto Legislation, Societe Generale's Stablecoin, ETH Taipei Opens, & Events This Week

With the rise of crypto assets, Australia says the regime must be reformed to respond to the risks posed by them.

Ah Monday... Everyone’s favourite day of the week. Whilst you were all living it large this weekend, Blockhead was busy keeping up with the ever tireless world of crypto. Here’s what you missed, and what to look forward to in the week ahead, condensed as Blockhead Brief. As ever, if you’re here from a friend, subscribe now.

Bitcoin and other leading cryptocurrencies retreated from their rapid climbs last week, with the world's leading crypto currently sitting at around US$27,700, or 7.63% down in the past 7 days. Ethereum fell even harder during the same period, and sits at US$1,861, or 11.33% down in the past 7 days, erasing the gains it had made following the Shapella upgrade.

"We could see lower levels soon, but buying half a position here at 27,500 is not a bad re-entry level. Bitcoin prices might even drop back to 25,000 – where we would buy the second-half position," Markus Thielen, head of research and strategy/crypto at Matrixport, said in an update on Monday.

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