Chainalysis: The UK ranked third in the world in trading volume in the past year, reaching US$252.1 billion

Blockchain analysis company Chainalysis releases a research report on the Central, Northern and Western Europe (CNWE) region. According to the report, the CNWE region has become the second largest cryptocurrency economy in the world, second only to North America. The region's transaction volume accounted for 17.6% of global transaction volume between July 2022 and June 2023. The UK ranks first on the CNWE as the largest cryptocurrency economy and ranks third in terms of global trading volume, behind the United States and India. The UK completed $252.1 billion in cryptocurrency transactions in the past year. Other large cryptocurrency economies in the CNWE region include Germany and Spain, which respectively completed approximately $120 billion and $110 billion in cryptocurrency transactions over the past year. These countries are followed by France, the Netherlands, Italy, Switzerland, Sweden and others. Cryptocurrency adoption is increasing in the UK, and the country has adopted a series of cryptocurrency regulations that provide a regulatory framework for the industry to grow. (Cointelegraph)