ChainCatcher reports that, according to CoinDesk, the blockchain intelligence company TRM Labs’ latest report indicates that the total trading volume of stablecoins is expected to reach at least $35 trillion by 2025 (a nearly 20% increase from $27.5 trillion in 2024), with illegal activities accounting for less than 0.5% (approximately 0.4%).
The report states that illegal entities received about $141 billion through stablecoins (the highest in five years), primarily concentrated on sanctions evasion and large-scale money laundering networks. Sanction-related activities account for 86% of all illegal crypto flows, with Russia-linked ruble-pegged stablecoin A7A5 handling $72 billion in illegal inflows (dominating). Despite the absolute illegal amount rising, the proportion has decreased, reflecting explosive growth in legitimate use cases such as payments and settlements: by 2025, monthly transaction volumes will exceed $1 trillion multiple times. TRM emphasizes that stablecoins have become core infrastructure, with illegal activities highly concentrated in specific networks (such as the A7A5 ecosystem), while the illegal proportion of mainstream stablecoins (like USDT and USDC) remains extremely low.
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