Crypto Stablecoins Allowed $40 bn In Criminal Activities
Cryptocurrency tracing firm Chainalysis has revealed that stablecoins were implicated in 70% of crypto scam transactions in 2023, 83% of crypto payments to sanctioned nations like Iran and Russia, and 84% to specifically sanctioned individuals and entities.
This figure surpasses the overall growth in stablecoin usage, constituting 59% of all cryptocurrency transaction volume in 2023 for legitimate purposes.
Chainalysis identified $40 billion in illicit stablecoin transactions during 2022 and 2023 combined, with sanctions evasion accounting for over half of the $24.2 billion in criminal transactions observed across all cryptocurrencies in 2023.
You need to login in order to Like
