The cryptocurrency market is hot right now. In early May, Ethereum (ETH) was valued at more than $3,500, up from less than $1,100 at the beginning of the year. Often considered the second most popular cryptocurrency after Bitcoin (BTC), Ethereum has been called “digital oil” while, by comparison, Bitcoin has been called “digital gold.” And then there’s others, like Dogecoin (DOGEUSD), which started as a joke. As investors jump on the bandwagon, though, Dogecoin has jumped above $0.60 (as of this writing)—that’s up from about a dime just a few weeks earlier. As the crypto ecosystem gains attention from investors, it’s gaining attention from regulators as well.
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