Isn't interesting how just about everyone at the beginning of this week was set on the fact that we were on our way to a bear market, then things drastically changed today! Hope you are enjoying the ride and try to have as much fun on the way up as you do on the way down. Commissioner Dan M. Berkovitz of the Commodity Futures Trading Commission (CFTC) believes DeFi derivatives platforms may contravene the Commodity Exchange Act (CEA). Speaking as part of a June 8 keynote address dubbed "Climate Change and Decentralized Finance: New Challenges for the CFTC," Berkovitz notes that: "Not only do I think that unlicensed DeFi markets for derivative instruments are a bad idea, but I also do not see how they are legal under the CEA." The IRS has outlined different ways that $32.3 million in additional funding will bolster the agency's crypto tax collection efforts. The Internal Revenue Service's (IRS) Criminal Investigation Division (CI) wants millions more in funding to pursue cryptocurrency tax evasion. In brief Coinbase users are suing the company for locking their accounts for months. The claims are only allegations but are likely to bring attention to Coinbase's customer service issues. A group of six cryptocurrency owners filed a class action lawsuit against Coinbase, claiming the company wrongfully locked them out of their accounts for periods of up to several months. Next month, Paraguayan congressman Carlos Rejala plans to present a bill to attract international mining companies and other crypto businesses. The project allows cryptocurrency companies - whether in mining or another segment, such as exchanges - to finance their Paraguayan operations with cryptocurrencies, remit dividends abroad and capitalize their cryptocurrency profits in local banks, Rejala told CoinDesk. You can find all of these stories and more at the link below:
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