FATF urges faster crypto AML enforcement as stablecoin crime increases
Summary
FATF says criminals are increasingly using stablecoins for illicit finance, with most identified onchain criminal activity now involving dollar-pegged tokens. It also warns that criminal networks are creating proprietary stablecoins intended to resist freezing and asset seizures. FATF urged countries to speed up crypto AML enforcement because regulatory gaps remain. While 83% of surveyed jurisdictions have adopted the Travel Rule into law, many still lack effective supervision and enforcement. FATF also flagged ongoing challenges with offshore crypto service providers and assessing DeFi risks, which it sees as a growing blind spot.
