Chainalysis: Central, Northern, and Western Europe reported to be second largest crypto economy this year
In an Oct. 18 report from Chainalysis, Central, Northern and Western Europe were said to account for 17.6% of global transaction volume between July 2022 and June 2023. The only cryptocurrency economy that is said to be larger is North America. The UK takes the lead As part of growing trends for crypto adoption in the United Kingdom (UK), the report notes that the country has ranked third in the world for transaction volume, with an estimated $252.1 billion received in the past year. This makes the UK a leader in the region, trailing behind the United States and India for the first and second spots. DeFi services were reported to be responsible for most of the cryptocurrency value in the region, making up 54.8% of the total. Cryptocurrency value received | Source: Chainalysis Following the UK, other major crypto economies include Germany at $120 billion and Spain at $110 billion. Making regulation clear The report comes just after several announcements of new regul...