According to Tara Annison, the rise of the crypto industry, the creation of decentralized finance protocols (DeFi), mixing services and stablecoins have provided criminals with new and more sophisticated tools for illicit transactions. At the same time, the expert noted, bitcoin, with its limited supply on the market, is beginning to lose its appeal in the eyes of criminals.
“Criminals have begun to target bitcoin less as the ultimate target, shifting to the use of dollar-based assets, such as USD Coin (USDC). USDCs are widely available in the market and can be very easily laundered through decentralized exchanges (DEX) where there is deep liquidity and large volumes,” explains Tara Ennison.
The crypto expert noted that despite the bearish trend that has made the crypto industry less attractive to cybercriminals, law enforcement agencies in many countries are recording the increased popularity of stablecoins for sanctions evasion and funding terrorist activities.
According to U.S. media reports, the U.S. Congress has been submitted to the U.S. Congress
a national cryptoasset security bill that would hold those who control DeFi projects personally liable.