According to a recent report by CoinGecko, of the top 30 cryptocurrency exchanges, 70%, or 21, are located in offshore financial centres. report.
The report defines an offshore financial center as “a region that seeks to attract financial activity from abroad through flexible regulations and low or zero tax regimes.” Based on that definition, the most popular offshore financial centers for cryptocurrency exchanges are the Seychelles, the Cayman Islands, and the British Virgin Islands.
worldwide distribution
According to the report, the top 30 largest cryptocurrency exchanges are spread across 15 countries. They account for 37%, with 11 of the 30 exchanges located in North America, including 4 in the British Virgin Islands, 3 in the Cayman Islands and 2 in the United States.
When evaluating the distribution by country, Hong Kong emerges as the country hosting the most cryptocurrency exchanges. Of the 30 major exchanges, 6 are incorporated in Hong Kong, accounting for 20% of the total.
Gibraltar and the British Virgin Islands host five and four exchanges respectively, second and third only to Hong Kong. Meanwhile, Seychelles has three big exchanges: OKX, KuCoin and MEXC Global.
