HomeCryptoCountries crypto-friendly where traders have earned the most in 2023

Countries crypto-friendly where traders have earned the most in 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. 

Crypto-friendly countries and cryptocurrency traders’ earnings in 2023

The Geography of Cryptocurrency Report 2023 by Chainalysis reveals which are the crypto-friendly countries where traders have earned the most in 2023.

Overall, estimates for 2023 indicate that crypto traders have earned a total of $37.6 billion with cryptocurrencies. 

A figure far from the 159.7 billion dollars achieved in 2021, the year in which Bitcoin reached its previous ATH – All Time High. But also a figure that makes the crypto market resilient after the losses of 2022, estimated at 127.1 billion dollars, the year of the “crypto winter”. 

With this scenario, Chainalysis also notes that crypto traders in 2023 seem to have been less inclined to convert cryptocurrencies into cash, precisely because of the hope that prices would once again exceed historical highs. 

Analyzing the crypto trend of 2023, it is also easy to notice how crypto gains were relatively steady until August, which along with September, was the only month to record losses. On the contrary, from October to December, the gains of crypto traders increased significantly. 

Crypto-friendly countries: which are the ones where traders have earned the most in 2023?

Returning to the ranking of countries where crypto traders have earned the most in 2023 compiled by Chainalysis, it seems that the United States takes the first place.

And indeed, despite the various concerns of the SEC in the crypto sector, cryptocurrency traders in the United States have achieved profits estimated at 9.36 billion dollars.

Following, the second place in this ranking is instead awarded to the United Kingdom, with estimated crypto earnings of 1.39 billion dollars. 

Chainalysis points out that even in Asia with Vietnam, China, Indonesia, and India, the total earnings of crypto traders have reached over 1 billion dollars. 

Apparently, low to middle-income countries have historically shown a strong adoption of cryptocurrencies, which has remained particularly resilient even during the recent bear market.

United States and the latest SEC warning to Uniswap

When talking about crypto-friendly countries and the United States as the winners of the ranking of crypto traders who have earned the most in 2023, it is natural to notice the contrast between the sector and its regulation in the USA. 

And indeed, recently, added to the list of crypto companies under investigation by the Securities and Exchange Commission of the USA (SEC) there was Uniswap, the famous decentralized exchange.

Today, in fact, the SEC has pursued cases against the well-known crypto companies Ripple, Binance.US, Coinbase, and now it is time to investigate also with the iconic name of DeFi, namely Uniswap.

At the moment, Uniswap seems to have received only a Wells notice from the SEC which however indicates the intention of the authority to take legal action against it.

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.