Is Bitcoin a centralized currency?

2017 Cryptocurrency market in numbers¹ : From less than $18B to more than $600B in 2017. More than 99% of cryptocurrency transactions go through centralized exchanges.

Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC). When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized .

Centralized exchanges are regulated, need licenses to operate, and are compliant with the regulatory authorities. Decentralized exchanges on the other hand are complicated to regulate . These DEXs are difficult to regulate due to the highly distributed blockchain.