Recently, Crystal – Bitfury’s blockchain analytics platform released a report finding the countries with the highest number of registered digital currency exchanges. According to their survey, the United Kingdom, United States, Hong Kong, Singapore, and Australia top the leader board with the highest number of registered crypto exchanges.
U.K. and U.S. – The Leaders
As per the report, the U.K. has the highest number of registered exchanges with 43 market operators followed by the U.S. with 27 crypto exchanges. Hong Kong holds the third position with 22 crypto exchanges, Singapore the fourth with 19, and Australia the fifth with 9.
On the other hand, the countries with the least number of registered crypto exchanges include Argentina, Mexico, India, Russia, and Indonesia.
Across the world, around 10% of all the exchanges that took part in the survey weren’t registered in any countries.
The report 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, Singapore, and Australia”.
Crypto Regulations and Its Impact on Exchanges
Shortly after the G20 Summit which was held in Osaka, Japan on June 29 this year, the G20 leaders asserted that cryptocurrencies won’t be a threat to monetary stability. They added that technological innovation can even bring forth significant benefits to the economy.
Currently, even though the U.K. is considered a global leader when it comes to crypto adoption and innovation, the environment is still a bit confusing and hard to predict.