INSUBCONTINENT EXCLUSIVE:
A recent warning from the Financial Action Task Force (FATF) about the rise of stablecoin-related crimes does not pose a threat to the
activity reflects a need for close monitoring and analysis rather than an effort to curb their growth, according to executives at
Chainalysis and Asset Reality.The global financial crime watchdog sounded the alarm on stablecoins Thursday, asking regulators to focus on
disrupt illicit flows.Onchain crimes by assets: stablecoins, altcoins, Ether and Bitcoin
place more onus and responsibility on those crypto entities that knowingly facilitate sanctions evasion and use secondary sanctions to
He stressed that centralized stablecoin issuers also retain the ability to freeze funds when they become aware of their illicit use.Related:
Tether freezing and seizing $225 million in its USDt (USDT) stablecoin connected to scam activity at the request of the US authorities in
regarding the post by ZachXBT but had not received a response at the time of publication.Circle froze $57 million in USDC on Solana tied to
the Libra team at the request of a US federal court in May.Related: North Korea crypto hackers tap ChatGPT, Malaysia road money siphoned:
