Most illegal activity happening on cryptocurrency ledgers now involves the tokens known as stablecoins, according to a report released 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, a global intergovernmental money-laundering and terrorist-financing watchdog, 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.