The latest Crystal Blockchain report has been released and shows that Seychelles, an African country, had the largest amount of sent and received bitcoin transactions globally in the first half of 2020.
Seychelles has maintained this record since 2017 and this year looks no different, despite the United States and the United Kingdom having more registered exchanges.
The report shows significant bitcoin transfer volumes have taken place in non-G20 countries with Seychelles and Singapore standing out as exceptions. The reason for this is the large number of exchanges registered in these countries.
Some of the known exchanges registered in Seychelles contributing to these huge volumes include:
A related report, recently released by CipherTrace, shows that 72% of African domiciled crypto assets exchanges and services are registered in the Seychelles and, 70% of those Seychelles-domiciled exchanges and services have bad or porous KYC.
About Crystal Blockchain
Crystal is the all-in-one blockchain analytics platform, providing a comprehensive view of
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