Crystal, a blockchain analytics platform by software solutions firm Bitfury, has released a comprehensive report on cryptocurrency trading and exchanges, including a ranking of countries with the most registered exchanges.
According to Cointelegraph, Crystal’s “Report on International Bitcoin Flows 2013–2019” has highlighted the United Kingdom and Singapore as some of the most active countries for crypto trading.
The “Report on International Bitcoin Flows 2013–2019” was published on September 9th, 2019 with the intent of providing insights into cryptocurrency movements over the more than six-year period, focusing particularly on Bitcoin (BTC). It uses data from across the globe from January 1st, 2013 to June 30th, 2019.
A breakdown of countries by the availability of registered cryptocurrency exchanges put the United Kingdom in the lead, followed by the United States and then Asian financial hubs Hong Kong and Singapore. At the bottom of the list are Argentina, India, Mexico, Russia, and Indonesia.
Data presented in the report supported assertions by the Group of 20 (G20) nations that they were accepting of Bitcoin and other such digital currencies. It pointed out that in 2018, of the US$92.6 billion worth of BTC transferred between exchanges, US$65.1 billion was within G20 nations as well as Hong Kong and Singapore.
Only this year, G20 leaders at a summit in Osaka, Japan reiterated that they did not see cryptocurrencies as a threat to the stability of fiat currencies and that they acknowledge the possible benefits the technology presents.
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