International criminal groups continue to exploit regulatory gaps to launder vast amounts of illicit funds through the crypto sector. According to a new FATF report, many countries still face difficulties in practically implementing oversight rules for the industry.
FATF analysts note some progress: about 83% of reviewed countries have already adopted laws to implement the Travel Rule, compared with 73% in 2025. Another 11 countries are currently working on relevant legislation.
However, in practice, effective supervision and real punishment of violators are still not being carried out properly. National regulators have acknowledged difficulties in controlling offshore platforms and DeFi protocols.
FATF President Giles Thompson emphasized that delaying the implementation of standards is no longer possible, as criminal syndicates have begun creating their own private stablecoins that are technically resistant to asset freezes and seizures. Stablecoins now account for the majority of all illicit activity on the blockchain.
The report also states that since 2025, the methods of crypto criminals have become more sophisticated and technologically advanced. Fraudsters are actively using artificial intelligence to generate deepfakes and automate phishing attacks.
As an example, FATF cites a financial conglomerate from Cambodia that laundered at least $4 billion from 2021 to 2025, servicing Asian scam call centers and North Korean hacker groups. In June 2025, Spain's Civil Guard dismantled a crypto fraud network that had laundered about $460 million stolen from 5,000 victims worldwide.
Expert Grigory Osipov explained that criminal structures are seeking to reduce their dependence on centralized issuers like Tether and are creating their own stablecoins without the possibility of freezing funds. Blockchain technology allows any market participant to create their own token and independently define its operating rules.
According to Osipov, the main goal of regulators is not to fight stablecoins as such, but to ensure the ability to forcibly freeze them. Any stablecoin must provide for the possibility of freezing funds by legal requirement. If such a possibility does not exist, the stablecoin itself is deemed illegal.
The expert recommends checking the origin of funds before making a transaction through specialized services. If a connection is found between funds and terrorism or other serious crimes, this fact should be recorded and reported to law enforcement agencies.
Stay vigilant. Check the origin of cryptocurrency before making transactions.