• Illicit networks accounted for $141 billion of the trillions of stablecoin volume in 2025 Sanctions-related activity accounted for 86% of illicit crypto flows last year, with most of those flows routed through stablecoin platforms, according to TRM Labs. • What to know: Illicit entities received $141 billion in stablecoins in 2025, more than half of it linked to the ruble-pegged A7A5 token, whose executives dispute claims that their operations are illegal. • Stablecoins made up 86% of all illicit crypto flows in 2025, with sanctions-related networks such as the A7 ecosystem evolving into large, centralized cross-border financial systems. • A745’s director for Regulatory and Overseas Affairs disputed the findings. • In 2025, illicit entities received $141 billion in stablecoins, the highest level observed in five years,according to a new reportfrom TRM Labs. • The report noted that overall stablecoin activity exceeded $1 tillion per month on several occasions last year.
Article Summaries:
- TRM Labs released a 2025 report showing that illicit actors received $141 billion in stablecoins, the highest level in five years. 86 % of all illicit crypto flows were routed through stablecoin platforms, largely via sanctions‑linked networks. 72 billion of the illicit volume was tied to the ruble‑pegged A7A5 token, whose executives dispute claims of illegal activity and argue they comply with KYC/AML standards. The report notes that overall stablecoin activity surpassed $1 trillion per month on several occasions. A7A5’s affiliated entities and its reserve‑holding bank remain under U.S. Treasury sanctions, limiting U.S. dollar‑denominated interactions.
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