CoinVoice has learned that, according to a report by The Block, the latest report from crypto analytics firm TRM Labs shows that 99% of stablecoin transactions in 2024 are for legitimate purposes.
Currently, stablecoins account for over 60% of the total transaction volume of cryptocurrencies, with inter-company transfers being the largest and fastest-growing use case. TRM Labs points out that stablecoins operate on public chains, combined with advanced blockchain analysis technology, providing traceability, greater transparency than cash, and issuers can “freeze” or “destroy” illegal proceeds.
However, TRM also stated that stablecoins account for 60% of the total illegal transaction volume in the encryption ecosystem. In its Q1 2025 cryptocurrency crime report, it was found that despite the increasing attention on privacy coins, stablecoins remain the asset choice for illegal activities such as terrorism financing.
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