TRM Labs has just published worrying figures which reignite the debate on crypto crime. At the center of the discussions: illicit activities linked to stablecoins which have reached a 5-year record. More details in the paragraphs that follow!
In brief
- Stablecoins reach $141 billion in illicit activity in 2025.
- Monitoring and regulation of stablecoins is intensifying in the face of criminal flows.
Stablecoins now dominate illicit flows in the crypto sector
THE stablecoins outperform bitcoin in uses related to money laundering and darknet markets. Often indexed to the dollar, their stability facilitates rapid transfers of financial flows. USDT appears to be one of the most used instruments in these circuits.
According to TRM Labs, $141 billion in suspicious transactions passed through these digital assets in 2025. A level that marks a five-year high! The share of illicit activities in the overall crypto volume nevertheless remains limited. The main reason is that the market is growing faster than crypto crime.
Faced with this increase, surveillance and regulatory pressure are intensifying
The authorities intend to exploit the transparency of the blockchain to track suspicious transactions related to stablecoins. We are more specifically referring to onchain traceability which makes it possible to identify wallets linked to criminal networks.
In the report published on February 19, TRM Labs points out that law enforcement is recovering funds faster than before. Stablecoins leave exploitable digital traces. This reality changes the dynamics of crypto crime.
The pressure on regulation is also increasing. Today, the stablecoin issuers face increased compliance requirements. Debates around legal frameworks are increasing, especially in areas affected by international sanctions.
For investors, the question remains sensitive. Stablecoins support market liquidity and facilitate access to digital assets. They even constitute a strategic issue. What weakens the balance between financial innovation and increased control.
Legitimate or not, stablecoins are now at the heart of global flows. Nevertheless, the record of 141 billion dollars in 2025 marks a strong signal. The evolution of regulation and supervision will therefore shape the next phase of the crypto market.
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