New Study Reveals Countries With Most Registered Crypto Exchanges
crazyfrog last edited by
The United Kingdom, the United States, Hong Kong and Singapore have the largest number of registered digital currency exchanges, according to data from Bitfury’s blockchain analytics platform Crystal.
Crystal published its “Report on International Bitcoin Flows 2013–2019” on Sept. 9, in which it provides insight into cryptocurrency operations and Bitcoin (BTC) transactions around the world between Jan. 1, 2013, and June 30, 2019.
U.K. and U.S. lead the rating
The findings show that the largest number of registered crypto exchanges are in the U.K., the U.S., Hong Kong and Singapore. Countries such as Argentina, India, Mexico, Russia and Indonesia report the fewest registered exchanges.
Per the report, almost 10% of all exchanges considered in the survey do not have countries of registration.
As for Bitcoin transactions, in 2013, 96% of all Bitcoin transferred between exchanges was sent by exchanges from the “G20 & Other” group (shown below), while in 2018 the number slumped to 70%. The report further states:
“In 2018, the total volume of bitcoin directly transferred between exchanges was almost $92.6 billion. A total of $65.1 billion was transferred by exchanges from G20 countries, Hong Kong, and Singapore.”
Impact of crypto regulations
As previously reported, G20 leaders reaffirmed their previous stance towards cryptocurrencies in a declaration following the G20 Summit in Osaka on June 29. The G20 leaders stated that cryptocurrencies do not currently constitute a threat to monetary stability, and that technological innovation can deliver significant benefit to the economy.
Although the U.K. is widely considered to be a global leader when it comes to crypto adoption and innovation, the environment is purportedly still confusing and complicated for exchanges, platforms and other related businesses, as the industry has been neglected in the push to protect consumers.
supermario last edited by
No surprise that it's the UK and US.
hola55 last edited by
Wow, Singapore too? Cool...
elixir last edited by
Sometimes it's surprising to think that crypto's been around so long.
bell last edited by
Hong Kong and Singapore among the countries? Interesting.
So I guess Malaysia's somewhere in between.
@bell Yeah. UK and US are expected. But HK and SG? Wow.
@elixir Now that you said it, actually yeah. It's been quite a while.
pokemon last edited by
So it's the UK that's on the front of crypto adoption. Always thought it was the US.