US DOJ Calls For International Cooperation On Crypto Law Enforcement – June 7

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $29,817

Bitcoin price has erased all of its gains from yesterday’s advance, finding itself back below the $30,000 mark yet again.

Top-20 altcoins took a hit over the last day of trading, as Ethereum drops 6%, BNB tumbles 8% and Cardano gains 1%.

Top Stories for June 7, 2022 πŸ”₯

πŸ‘‰ US DOJ Calls For International Cooperation On Crypto Law Enforcement

The US Department of Justice (DOJ) has called for more international cooperation between law enforcement agencies for crypto, including improved information sharing.

It was also proposed that anti-money laundering (AML) and know-your-customer (KYC) rules be “harmonized” between countries, in the pursuit of “closing regulatory gaps” across jurisdictions.

The report acknowledged that the use of cryptocurrency is growing substantially, and has significant implications for consumers and businesses – but also emphasized an increase in risk for illicit activity.

πŸ‘‰ Binance.US Launches Staking Service To Compete With Local Exchanges

Binance’s US exchange has launched a staking service, which is seeking to rival those offered by local competitors Coinbase and Gemini. The service will make it easy for users to stake their Proof-of-Stake assets such as Avalanche (AVAX), Cosmos (ATOM) and several more.

Specifically, Binance.US CEO Brian Shroder says that the platform aims to beat staking annual percentage yields (APYs) and user experience offered by other platforms, with up to 18% yield on certain tokens.

πŸ‘‰ US Draft Bill Leaked, Crypto-Related Details Revealed

A copy of a 600-page US draft bill has been leaked, with significant implications on cryptocurrency. The bill details regulation for decentralized finance (DeFi), stablecoins and decentralized autonomous organizations (DAOs).

The bill appears to focus on user protection, looking to require any crypto platform or service provider to legally register in the US – including DAOs. The bill is still a long way from being submitted and/or passed, with much of the bill-shaping process still to occur.