Morgan Stanley: Malta leads regarding trade in cryptocurrencies

But regarding the number of exchanges, the UK has the first place. 01.May.18 10:55 AM By Svetlana Siukhina Photo Toinnov.com    406

The Morgan Stanley Bank expert group conducted a study of the distribution of volumes of crypto trading in all countries and the distribution of exchange and currency exchanges. The rating is led by Malta, which has a clear legal and regulatory framework for digital finance, and after news of plans to move to the country of Binance crypto-exchang from Hong Kong. The head of the company Changpeng Zhao said that the platform would soon begin to "exchange fiat money for cryptocurrencies" in the European European state. On the opening of the office in Malta also recently reported the third most significant stock exchange - OKEx. The top five countries regarding the volume of crypto trading followed Malta: Belize, Seychelles, the United States and South Korea. By the number of officially registered crypto-exchange exchanges, the UK takes the first place, although it accounts for only 1% of the total volume of trades. Next are Hong Kong, USA, Singapore, and Turkey. At present, six exchanges are located in India, but many have announced the change of location due to the decision of the central bank of the country to oblige commercial banks to close the accounts of crypto-exchange, the report says.

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