The United Kingdom topped the list of crypto-economies in the Central, Northern and Western Europe (CNWE) region. According to a Chainalysis report, from June 2022 to June 2023, about $252 billion worth of cryptocurrency payments were made in the country.
In addition, the UK ranks 14th in the Chainalysis Global Index for the penetration of cryptocurrency technologies into the country’s economy.
Founder and CEO of the British cryptocurrency exchange Solid, Jamie McNaught, noted that British investors have become increasingly focused on crypto assets, both from a technological and investment point of view:
“Customers in the UK are looking for adequate alternatives to the low returns of traditional forms of savings and investment. They are willing to move away from supporting underperforming investment portfolios in favor of tokens or NFTs.”
According to the expert, the growing popularity of digital assets in the UK is not unexpected, given the reliable banking sector, strict regulation of cryptocurrency companies, as well as historically low inflation of the national currency.
Earlier, British Minister of Finance and Economy Andrew Griffith called on the Financial Conduct Authority (FCA) to be more lenient towards cryptocurrency companies and to simplify advertising requirements.
Source: Bits
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