What happened this May in the cryptocurrency world?

We have to admit it: this wasn’t a great month for Bitcoin (BTC). For the first time since December 2020, we didn’t see new records for it. However, that doesn’t mean everything was bad. Some altcoins not only survived the bloodbath but showed new All-Time-Highs (ATH). Besides, there was some other good news in the cryptocurrency world last May.

On the markets

Ethereum (ETH) and Dogecoin (DOGE) followed the same trend. The first one surpassed the awesome mark of $4,360 per coin for the first time, while DOGE reached a peak of $0.73 per coin. Since then, ETH has lost around 39%, and Dogecoin over 49% [CoinMarketCap]. The adoption growth for both of them is still there, though.

Hacks and security

Worldwide regulations and laws

Meanwhile, Ripple hasn’t stopped. The company forged partnerships with banks in Egypt and Oman, and also with sustainability leaders to become carbon zero by 2030. XRP Ledger added support for NFTs, and Ripple CEO, Brad Garlinghouse, stated that they’re aiming to go public on Wall Street once the SEC lawsuit is resolved.

Meanwhile, the National Payments Corporation of India (NPCI) has told banks that blocking or not cryptocurrency-related transactions is up to them. A new regulatory committee it’s being formed to study proper laws for cryptocurrencies in the country.

In Spain, the National Securities Market Commission (CNMV) allowed Bitcoin investments for funds. The government is also working on new laws for cryptocurrency custody services.

Other news

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Originally published at https://blog.alfa.cash on June 2, 2021.

We are an eight-year-old and duly regulated cryptocurrency exchange. We offer crypto-fíat and non-custodial transactions, and valuable knowledge in our blog.

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