Express
FATF Warns of Stablecoin Crime Risks, Industry Clarifies Non-Anti-Crypto Stance
Summary: According to Cointelegraph, the Financial Action Task Force (FATF) recently issued a warning regarding the rise in stablecoin criminal activities, with executives from blockchain analysis companies Chainalysis and Asset Reality stating that this is aimed at strengthening regulation rather than restricting industry growth. Data shows that by 2025, stablecoins will account for 63% of illegal ...
According to Cointelegraph, the Financial Action Task Force (FATF) recently issued a warning regarding the rise in stablecoin criminal activities, with executives from blockchain analysis companies Chainalysis and Asset Reality stating that this is aimed at strengthening regulation rather than restricting industry growth. Data shows that by 2025, stablecoins will account for 63% of illegal crypto transactions. Chainalysis policy advisor noted that FATF is calling for unified regulatory standards for stablecoin issuers across countries, implementing real-time monitoring, and enhancing international cooperation. Asset Reality co-founder emphasized the need to apply traditional anti-money laundering standards to the digital asset sector. In 2023, Tether froze $225 million in USDT as requested by the US over fraud allegations.
Tags:
Link: FATF Warns of Stablecoin Crime Risks, Industry Clarifies Non-Anti-Crypto Stance [Copy]
