Tether Is Most Used Stablecoin in Illicit Crypto Flows: TRM (1)

Tether was the most used stablecoin for criminal activity in crypto last year, a period when the overall volume of illicit transactions in the sector fell as more digital-asset outfits faced sanctions, according to TRM Labs.

The token known as USDT was linked to $19.3 billion of illicit transactions in 2023, down from $24.7 billion the previous year, blockchain analytics company TRM Labs said in a report and emailed responses to questions.

USDT dominated terrorist financing last year, according to the TRM report. USDT on Tron — a blockchain that stores more of the tokens than any other — ...