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Stablecoins now represent the most illegal activities on the chain, according to the working group for the financial event (Fatf).
Mass acceptance of stablecoins will intensify illegal financial risks, especially if it is treated unevenly across difference jurisdictions, FATF said in a new money laundering report and terrorist financing (AML/CFT).
FATF estimated that in 2024 there were approximately $ 51 billion in the illegal activity of the on-the-session concerning fraud and fraud.
Stablecoins, tokens suspended on the value of a traditional financial asset such as Fiat Currency, have been enjoying some tail winds in recent months due to progress towards progress the regulation of the sector in the USAmong other things.
The total market ceiling of all stablecoins for the first time overcame $ 250 billion At the beginning of this month.
FATF emphasized the importance of adherence to the “travel rules” in limiting money washing and financing terrorists. Traveling rule is a set of requirements to share information about the originator and recipient of cross -border payments.
In view of the fact that 99 jurisdictions approved legislation implementing rule of travel or in the process so FATF noted that it still remarks difficulty identifying natural or legal persons carrying out virtual services providers (Vasp) the activity.
Crypto aml specialist notabene said that Almost all companies of cryptocurrencies are expected to be in accordance with the rule of travel In a report published in April. Notabene explored 91 Vasp, with 90% stated that they expected to fully meet my Wednesday and everyone says it expects it to be the case by the end of the year.
Read more: Less than 30% of jurisdictions around the world began to regulate the crypto: Fatf chief
