Cryptocurrency exchange may appear in Azerbaijan in case of growing interest
BAKU, Azerbaijan, Oct. 31
By Kamala Mammadli - Trend:
A cryptocurrency exchange may appear in Azerbaijan in case of growing interest, Huseyn Ibadov, an independent cryptocurrency market analyst, told Trend.
“The emergence of a cryptocurrency exchange depends on the future status and interest in it in Azerbaijan,” the analyst said. “The turnover of cryptocurrencies in the country isn’t very big, and current regulations and status don’t allow the opening of exchanges due to uncertainty.”
Ibadov also spoke about the turnover of cryptocurrencies in the world market. Based on the statistics from coinmarket.com in October, China (BEX, $1.9 billion), Malta (Binance, $1.6 billion), Singapore (MXC, $1.6 billion, BikiCoin, $1.6 billion) are in the lead, the analyst noted.
Ibadov added that the UK, the US, Hong Kong and Singapore are the leaders in the number of cryptocurrency exchanges.
“I think we can use the practice and regulation of these countries,” the analyst said.