Countries where cryptocurrency traders have earned the most in 2023
The latest report from Chainalysis reveals the top countries where cryptocurrency traders have seen significant earnings in 2023.
- Global estimates show that traders have earned a total of $37.6 billion in 2023.
- This is a decrease from the record $159.7 billion in 2021 but represents a rebound from the losses of 2022.
- Traders in 2023 seemed less eager to convert cryptocurrencies into cash, hoping for prices to rise further.
- The trend in 2023 saw steady gains until August, with significant increases in earnings from October to December.
Crypto-friendly countries with the highest earnings
Among the countries where traders have earned the most in 2023, the United States leads the pack with profits of $9.36 billion.
- The United Kingdom takes the second spot with earnings of $1.39 billion.
- Asian countries like Vietnam, China, Indonesia, and India also saw total earnings exceeding $1 billion.
- Low to middle-income countries have shown strong cryptocurrency adoption, even during bear markets.
United States and the SEC’s latest stance on Uniswap
Despite being a top earner for cryptocurrency traders, the United States continues to regulate the crypto sector closely, as seen in the SEC’s actions against companies like Uniswap.
- Uniswap, a popular decentralized exchange, recently received a Wells notice from the SEC, indicating potential legal action.
- The SEC has targeted several prominent crypto companies for investigation, including Ripple, Binance.US, and Coinbase.
- Uniswap’s inclusion in the SEC’s scrutiny highlights the regulatory challenges faced by DeFi platforms in the US.
Hot Take: The Top Crypto-friendly Countries of 2023
Which are the crypto-friendly countries where traders have earned the most with cryptocurrencies in 2023? According to the Chainalysis report, the first place goes to the United States.
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