FATF warning on stablecoin crimes is not anti-crypto, intel firms say

Applying advanced tools for tracking illicit stablecoin transactions is necessary; still, it is not enough to mitigate the risks of mass adoption.

A recent warning from the Financial Action Task Force (FATF) about the rise of stablecoin-related crimes does not pose a threat to the cryptocurrency industry, according to executives at blockchain intelligence firms.

The FATF’s call to address rising illicit stablecoin 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 mitigating the risks of their potential mass adoption.

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