The Financial Action Task Force (FATF) said in a report that it was released this week that global efforts to regulate virtual assets and service providers have improved but incomplete, with illegal use of stablecoins that accelerate sharply in 2025.
The sixth targeted update of the intergovernmental watchdog on the implementation of its standards has shown that although 73% of the areas of law have adopted laws that have maintained the so-called travel rule for crypto-transfers, enforcement is limited.
The report noted that from the 85 countries with the laws for the travel rules, almost 60% should not yet issue compliance findings or guidelines.
The report also emphasized a record-breaking theft of $ 1.46 billion virtual assets this year by North Korean actors of the Crypto Exchange Bybit.
FATF noted that the Hackers Social Engineering and complex whitening networks used mixers, OTC traders and more than 125,000 Ethereum -portfolios. Only 3.8% of the stolen funds were found, which emphasizes persistent difficulties in tracing and repatriating crypto-linked yields of crime.
In general, Stablecoins have become the dominant vehicle for illegal activities in the chain, powered by their low costs, rapid settlement and broad liquidity.
Fatf mentioned the estimates of the private sector that showed more than $ 30 trillion at the Stablecoin volume in the past year, in addition to the growth of ‘pig impact’ and professional scam networks that AI generated by AI used to deceive victims.
Despite these risks, the report showed that only one jurisdiction fully complies with FATF recommendation 15 on virtual assets supervision. In the meantime, 29% of the countries were ‘largely in accordance with’, while about half remain only partially in accordance with and 21% do not suffice at all.
FATF insisted on the jurisdictions to accelerate the licenses and registration of virtual asset areas, to strengthen enforcement against non -registered entities and implement measures to check decentralized financial schemes (Defi).
The report also noted that approximately half of the investigators investigated require Defi projects with identifiable control parties to register as a Vasp, but enforcement remains rare.
Looking ahead, FATF plans focused the following year on reports about stablecoins, offshore vasps and Defi. The regulatory body warned that if Stablecoins approach mass acceptance, unequal worldwide regulations will increase illegal financial risks and prevent coordinated reactions.
The next extensive update on recommendation 15 -implementation must be fell in 2026.