Data from Santiment shows that there is a significant increase in discussions about Monero following the announcement of LocalMonero's closure. This surge in attention towards XMR is occurring as governments worldwide tighten regulations on privacy-focused assets, sparking concerns about the future of financial privacy in the cryptocurrency space.

The closure of LocalMonero, a peer-to-peer trading platform for Monero, comes amidst a series of shutdowns and arrests in the crypto privacy sector. The platform has ceased all new signups and Monero trade advertisements immediately, with a complete halt on XMR trading scheduled for May 14. Users have been instructed to withdraw their funds before November 7, as any remaining funds may be deemed abandoned after this date.

In a separate development, Milei Moneda is a new meme coin inspired by Argentine president Javier Milei's libertarian views and support for Bitcoin. The coin is currently in its low presale phase, offering an opportunity to invest early.

The U.S. SEC has opposed Ripple's proposed stablecoin in a recent court filing, labeling it as an unregistered crypto asset. The watchdog describes this move as a sign that Ripple could engage in unregulated activities without a permanent injunction. Ripple had disclosed plans for the stablecoin in April but has not divulged further details.

Santiment notes that discussions around XRP have intensified due to the SEC's focus on Ripple's proposed stablecoin, as well as the significant price volatility of XRP. The ongoing legal battle between Ripple and the SEC underscores the regulatory hurdles faced by the crypto industry and their potential impact on new digital asset development and adoption.