TRM Labs Report: 99% of Stablecoin Activity in 2024 Is "Legitimate"

According to The Block, a report from crypto analytics firm TRM Labs states that, based on its latest estimates, 99% of stablecoin activity in 2024 is "legitimate." TRM also notes that stablecoins currently account for over 60% of all cryptocurrency trading volume, which is particularly noteworthy as it suggests the association between cryptocurrencies and criminals has at least been somewhat exaggerated.

One of the most significant features of stablecoins is their traceability: since stablecoins operate on public blockchains, when combined with advanced blockchain analytics, they are often more transparent than cash. In addition to traceability, stablecoin issuers also retain the ability to "freeze" or "destroy" illicit proceeds.