The U.K., while falling to second place by volume, has seen traders shift strongly toward DeFi platforms. | Source: Gemini Key Takeaways Russia recorded $376 billion in crypto transaction value between July 2023 and June 2025, beating the U.K. and Germany. Chainalysis found that the EU’s Markets in Crypto-Assets framework is boosting institutional participation. The U.K. remains an innovation hub but is falling behind the EU’s regulatory progress. Russia has overtaken the U.K. to become Europe’s l ...