The Market Cap: Global crypto market capital tank at $1.57 trillion, down to 2.78 percent in the last 24 hours. Crypto prices: Bitcoin plunged to over 4 percent to settle over $35,200, while Ethereum slipped by 6.56 percent to trade at $2,291. Dogecoin settled down by 5.64 percent to trade at $0.30. Other cryptocurrencies like Ripple, Cardano, Stellar, and Litecoin also plunged by 10 percent respectively. Now News in Brief: This week, "Chinese authorities in the northwestern province of Qinghai and a district in Xinjiang has banned the financial institutions and payment companies from providing services related to crypto transactions. The Enforcement Directorate on June 11, issued a show-cause notice to India-based cryptocurrency exchange WazirX and its directors Nischal Shetty and Sameer Mhatre for allegedly violating guidelines in connection with a transaction worth Rs 2,790.74 crore. The President of El Salvador has announced bitcoin as a legal tender. The use of bitcoin as a legal tender will begin in 90 days, with the bitcoin-dollar exchange rate set by the market.