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Russia and Iran use stablecoins to bypass sanctions, with a surge in illicit crypto activity led by state actors.
Russia and Iran are increasingly using cryptocurrencies, particularly stablecoins, to evade international sanctions, a Chainalysis report reveals.
Sanctioned entities saw a 694% surge in crypto inflows over the past year, with nation-states now leading illicit crypto activity.
Russia launched a ruble-backed stablecoin, A7A5, which processed $93 billion in transactions within a year.
Iran’s Revolutionary Guard and allied groups facilitated over $2 billion in illicit activity, including funding for terrorist organizations.
Stablecoins make up 84% of illicit transactions due to their stability and ease of cross-border use.
Despite the rise in state-linked crime, less than 1% of all crypto transactions involve criminal activity.
Rusia e Irán usan stablecoins para eludir las sanciones, con un aumento en la actividad criptográfica ilícita liderada por actores estatales.