Deep Tide TechFlow news: On July 17, according to Cointelegraph, the Financial Action Task Force (FATF) warned that criminals are increasingly using stablecoins for illegal financial activities, and that most of the identified on-chain criminal activity involves dollar-pegged cryptocurrencies.

In its latest annual report, FATF noted that criminal networks have begun developing proprietary stablecoins to evade asset freezes and seizures. Although 83% of surveyed legal jurisdictions have incorporated the Travel Rule into law, up 10 percentage points from the previous year, many have not yet converted legal frameworks into effective regulatory enforcement. FATF urged countries to accelerate the implementation of anti-money-laundering standards for crypto to address the growing regulatory challenges posed by offshore service providers and the DeFi sector.