May 3: The Philippines requires cryptocurrency exchanges to deposit 35% as a risk reserve; Vietnam opens a cryptocurrency pilot program, allowing companies to hold cryptocurrency assets; Saudi Arabia issues its first cryptocurrency custody license.

Family offices have reduced their crypto asset allocation to 15%, risk appetite has declined, and M&A activity in the crypto industry has slowed, with only 25 deals totaling $2.6 billion in the first quarter.

March: Lazarus hacked a South Korean exchange, stealing $440 million; AI phishing scams surged, with individuals impersonating project teams stealing $96 million.

Real estate tokenization: $22 billion in funding expected in 2026, with the minimum investment threshold lowered to $2,000; Art NFTs: Increased on-chain adoption of high-end artworks, with quarterly transaction volume up 46%.

May: ETH strengthened to 3380, DeFi funds saw a slight inflow, the total market capitalization of cryptocurrencies surpassed $3.6 trillion, a 24-hour increase of 8.8%, and BTC spot ETFs saw a net inflow of $1.3 billion in a single day, ending eight weeks of outflows.

New UK crypto advertising regulations take effect, prohibiting misleading advertising; Canadian SOL, AVAX, and DOT spot ETFs approved on June 22nd and about to be listed; G20 crypto regulatory consensus implemented, global KYC/AML standards unified.

The ZK-Rollup token valuation bubble burst, leading to a significant price correction. Blockchain development tool fees increased, raising development costs for small and medium-sized projects. Security vulnerabilities in smart contract libraries proliferated, and OpenZeppelin version updates lagged behind.

Due to the new regulations, three small custody service providers have shut down their businesses because they could not meet the asset segregation requirements. Leading custody institutions have raised their custody service fees to share compliance costs, and Australian pension funds are increasingly favoring leading compliant custody channels when allocating crypto assets.

Deutsche Bank's 2026 interim report forecasts a third consecutive quarterly loss for its crypto segment, exceeding previous institutional expectations. The bank has officially begun a layoff plan in its crypto division, eliminating approximately 15% of R&D and sales positions. The planned tokenized deposit project has been delayed due to the combined impact of the global crypto bear market and rising MiCA compliance costs in Europe.