Two of the biggest crypto exchanges in the world, Binance and Coinbase, where investors purchase and trade a broad range of digital assets, have been sued by the US Securities and Exchange Commission (SEC), a federal body that oversees securities and protects investors.

While other US crypto exchanges are likely to be in the firing line, the Securities and Exchange Commission (SEC)'s actions suggest a push to require crypto businesses offering securities to follow the same rules as traditional stock and bond exchanges.

Apart from that, here are the top stories from the world of crypto!

EU Harnesses the Power of Blockchain for Credential Verification

The European Union (EU) is set to revolutionize the way educational and professional credentials are verified by adopting blockchain technology.

Blockchain solutions provider, Protokol, revealed a collaboration with EBSI Vector, a European Union-funded project creating a decentralized framework for cross-border verification.

To make it easier for EU nationals to have their credentials recognised and acknowledged abroad, the project will leverage blockchain technology to construct the upcoming credential verification system.

This move will not only streamline the verification process but also help combat issues such as fraud and fake qualifications.

Bitcoin ATMs Bounce Back After Global Downtrend 

After a four-month slump in global Bitcoin ATMs, cryptocurrency enthusiasts finally have a glimmer of hope. Recent data reveals that the number of Bitcoin ATMs is on the rise again, marking a positive shift in the market. 

The number of net crypto ATMs decreased by 5,850 globally in the first quarter of 2023. But in May, however, 1,397 machines were added back to the global crypto ATM network.

With 84.7% of all crypto ATMs worldwide, the United States continues to be in the lead, followed by Canada at 7.6%. Australia added 233 ATMs in all in 2023, moving up the rankings to become the third-largest crypto ATM hub in the world.

Google Offers Crypto Mining Attack Protection with $1M Coverage

In an effort to safeguard cryptocurrency miners from potential cyber threats, Google has unveiled a new insurance product that provides $1 million coverage against crypto mining attacks.

Subscribers to Google’s Security Command Center Premium, a cyber threat detector, are qualified for this hefty protection. 

With the rising popularity of crypto mining, hackers are increasingly targeting mining operations to steal digital assets. Google's insurance coverage aims to alleviate the financial risks associated with such attacks, bolstering the security infrastructure of the crypto mining industry. 

Louis Vuitton Steps into Digital Realm with Iconic Trunk NFTs 

Luxury fashion brand Louis Vuitton has made a remarkable foray into the world of Web3 by launching its iconic trunks as digital collectibles. 

The French luxury brand is currently reinventing its most recognisable piece of luggage, the Louis Vuitton trunk, as a digital collectible to accelerate its entry into the Web3 area.

Embracing non-fungible tokens (NFTs), Louis Vuitton aims to blend its heritage and craftsmanship with the digital realm. Each digital trunk represents a unique piece of art that collectors can buy, sell, and own in the form of NFTs. 

Binance Introduces Cloud Mining Products Amidst Regulatory Challenges 

Despite facing regulatory uncertainties, Binance, one of the world's largest cryptocurrency exchanges has introduced a new batch of Cloud mining products focused on Bitcoin (BTC) mining.

Due to a major winter storm that hit North America in late December, Binance's cloud mining services experienced disruptions. 

According to the official blog post, the new batch's subscription opened on June 8 and operates on a first-come, first-served basis. Meanwhile, mining operations are estimated to start around June 15.

That's all for this edition of our cryptocurrency newsletter. Stay tuned for more exciting news and updates from the world of blockchain and crypto!