Criminal Stablecoin Use Continues Growing, Task Force Says

Most illegal activity happening on cryptocurrency ledgers now involves the tokens known as stablecoins, according to a report released on Thursday by an intergovernmental body that develops policies to protect the global financial system against money laundering and terrorist financing.

The findings in the new report from the Financial Action Task Force land just as US lawmakers and businesses are pushing for the wider distribution of stablecoins, crypto tokens that are pegged to the dollar or some other national currency.