Report: 99% of Stablecoin Transactions Last Year Were for Legal Purposes

ChainCatcher news, according to The Block, a recent report from crypto analytics firm TRM Labs shows that 99% of stablecoin transactions in 2024 are for legitimate purposes.

Currently, stablecoins account for over 60% of the total cryptocurrency transaction volume, with inter-business transfers being the largest and fastest-growing use case. TRM Labs points out that stablecoins operate on public chains and, combined with advanced blockchain analysis technology, offer traceability that is more transparent than cash, and issuers can "freeze" or "destroy" illegal proceeds.

However, TRM also stated that stablecoins account for 60% of the illegal transaction volume in the entire crypto ecosystem. In its Q1 2025 crypto crime report, it was found that despite the rising attention on privacy coins, stablecoins remain the asset choice for illegal activities such as terrorism financing.