This article explores the growing dominance of stablecoins in cryptocurrency crime, accounting for 63% of illicit transactions. It also examines the impact of international regulatory frameworks, such as MiCA in Europe and the UAE's approach, on curbing these activities. The article analyzes the surge in stablecoin usage and its connection to rising illicit cryptocurrency volumes despite a decline in value received by criminal entities. Additionally, it discusses the recovery of the cryptocurrency sector in 2023 after a turbulent 2022, highlighting the challenges and opportunities presented by rapid innovation and increasing mainstream adoption.
