Stablecoins Take Center Stage in Illicit Activity

Looking closer at on-chain data, we see that by the end of 2025, approximately 84% of illicit crypto transactions were conducted using stablecoins. Their low volatility and fast transfer capabilities make them particularly attractive to bad actors. The risks have been discussed in the market for years—but even so, USDT usage hasn’t slowed down.

Tether’s Blocklist and Freeze Operations

Between 2023 and 2025, Tether froze around $3.3 billion in assets and added over 7,268 wallets to a blocklist. These figures are massive. Tether isn’t just making occasional big moves; it is consistently intervening to maintain control over the market. Many in the industry say it behaves almost like a central bank with this power.

Market Dominance Remains Intact

Despite these freezes and blocklist additions, USDT’s market capitalization remains around $187 billion, accounting for roughly 60% of the stablecoin market. In other words, no matter how aggressive the interventions are, USDT remains the backbone of the market. How long this will continue remains to be seen.

What the Freezes Reveal

Large-scale freezes make several things clear:

• Centralized authority remains strong: Tether can freeze funds instantly.

• Intervention in illicit funds is possible, though the ethical and practical limits are debatable.

• Stablecoins remain attractive: Low risk and high liquidity continue to draw users.

In short, Tether’s moves are more than just numbers. They are reshaping the discussion around centralized control and compliance in crypto finance, creating a space that both regulators and investors will be watching closely.

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This report is considered a critical step toward the official closure of the case. Once the court approves the report, the lawsuit will be formally concluded. The case, which began four years ago, targeted Ripple and its executives over $1.2 billion in XRP sales. The SEC argued that XRP was a security, impacting the token’s market price. 

#XRPCommunity #SECGov v. #Ripple #XRP The @SECgov has filed a status report with the Court of Appeals noting that the parties have filed a Joint Stipulation of Dismissal of the appeals and that the stipulation remains pending and therefore awaiting approval by the Court. pic.twitter.com/X74wFRhswq

— James K. Filan (@FilanLaw) August 15, 2025

Process Following the Joint Denial of Appeals 

On August 7, Ripple and the SEC jointly withdrew their appeal requests. This step is seen as an indication that the case is almost over. Ripple retracted its cross-appeal, followed by the SEC withdrawing its own appeals. Under the settlement, Ripple will pay $125 million, much lower than the initial $2 billion. 

Certain restrictions on future institutional XRP sales will remain. SEC Chair Paul Atkins stated that this is a milestone for U.S. crypto regulation. A crypto community member, Sherrie, noted that the status report was submitted late. The court needed the report because it had not formally approved the joint withdrawal. This allows Ripple to continue operations while exercising its waiver rights. 

The XRP case has long been closely monitored by the crypto market. The rejection of appeals and the SEC’s status report signal the official closure of the case. Ripple will now operate within a legal framework for institutional sales and fulfill registration requirements. As a result, XRP investors continue to closely follow the case’s conclusion. 

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Acting Chair Caroline Pham stated that the current legal framework could be applied without the need for new regulations. She emphasized that spot crypto assets could be traded through designated contract markets (DCMs). This approach directly conflicts with the SEC’s securities interpretations. 

CFTC-registered DCM platforms like CME Group and ICE Futures US operate under strict supervision and customer protection measures. The plan would allow these platforms to list physically settled crypto contracts. 

However, Pham opposes complex regulations similar to Europe’s MiCA. She advocates for streamlined and effective solutions to maintain the U.S.’s market leadership. 

SEC-CFTC Conflict 

Some legal experts warn that the plan carries significant risks. Andrew Rossow, CEO of AR Media Consulting, pointed out that crypto assets cannot be rigidly categorized. According to Rossow, assets may acquire security characteristics over time, threatening regulatory stability. 

The CFTC’s authority is limited to leveraged or collateralized transactions conducted only through DCM platforms. Meanwhile, the SEC still classifies many cryptocurrencies as securities under the Howey Test. 

Rossow emphasized that this dual framework doesn’t align with the dynamic nature of crypto assets. Even if investors comply with CFTC rules, they may face retroactive SEC enforcement actions. 

Moreover, this situation could trigger various legal consequences such as unregistered securities trading or brokerage violations. Consequently, even if the plan is implemented, a lack of coordination between agencies increases risks. 

CFTC Moves to Accelerate Crypto Regulation in the U.S. 

Caroline Pham aims to implement spot crypto regulations within 12 to 18 months, positioning the U.S. as a global crypto hub. 

However, without resolving uncertainties around securities-commodity distinctions, such steps could lead to further legal confusion. Also, listings made without clear investor protections may undermine trust. 

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The U.S. Department of Justice (DOJ) announced the move as part of a broader civil forfeiture case. In total, $2 million worth of digital assets were linked to funding terrorist organizations. Tether acted swiftly upon receiving alerts from law enforcement, freezing the funds and reissuing them through legal procedures. 

Tether’s Fight Against Global Crypto Crime 

Over the past year, Tether has collaborated with numerous law enforcement agencies worldwide. For example, in Brazil, Tether froze $6.2 million (R$32 million) related to a money laundering scheme via the Klever Wallet platform. 

In June, the U.S. DOJ commended Tether for assisting in the seizure of $225 million in USDT. In March, the company froze $23 million in funds held on Garantex, a Russian exchange under sanctions. It also played a key role in freezing $9 million following the Bybit hack. 

As of today, Tether has worked with over 275 law enforcement agencies across 59 countries. It has frozen more than 5,000 wallets—2,800 of them in coordination with U.S. institutions. 

Tether Freezes $2.9 Billion in USDT with Full Transparency 

Tether has frozen over $2.9 billion in USDT to date. The company actively cooperates with more than 275 enforcement bodies in 59 countries. It uses the OFAC SDN list and national regulations to rapidly block suspicious funds. 

CEO Paolo Ardoino emphasized the role of blockchain transparency: 

“Blockchain enables Tether to detect misuse in real-time. Unlike traditional systems where illicit flows stay hidden, USDT-based movements are openly traceable.” 

Ardoino also reaffirmed Tether’s commitment to supporting law enforcement and ensuring the safety of the digital asset ecosystem. Tether has been involved in seizing $2.5 billion in operations with the U.S. Secret Service and DOJ. 

According to an on-chain analysis report published in May 2024, Tether froze $5.2 million related to phishing and fraud schemes and $1.6 million in terror-related transactions.

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This could mark a defining moment in how big money enters decentralized finance.

Over 50 Protocols, Zero Custody Risk

Blockdaemon’s new platform enables yield farming and proof-of-stake (PoS) staking across more than 50 blockchain networks—without requiring asset custody.

Compliant with ISO 27001 cybersecurity and SOC 2 data standards, Earn Stack promises full slashing protection and seamless DeFi access via institutional-grade APIs.

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CEO Konstantin Richter emphasized, “Crypto-native institutions and protocol developers demand enterprise-level infrastructure. Earn Stack is that foundation.”

Plug-And-Play DeFi Access for Institutions

With a no-code widget, Earn Stack allows institutions to embed multichain staking and DeFi functionality in their platforms. For advanced setups, the suite includes:

• DeFi API aggregating liquidity and price data
• Staking API standardizing access across blockchains
• Reporting API to monitor staking rewards

The move comes at a time when staking demand—especially for Ethereum (ETH)—is surging, with over 35 million ETH staked.

ETF analysts now expect the first staking-based ETFs for Ethereum and Solana (SOL) to debut in the U.S. within weeks, heightening the relevance of Blockdaemon’s institutional solution.

The company has also hinted at a possible IPO in 2026, underlining its growing ambition in the institutional crypto infrastructure space.

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This transaction took place under new regulations allowing institutional investors and non-profit organizations to sell crypto assets. According to Upbit’s parent company Dunamu, the ETH was held by the organization’s President, Myung-hwan. 

FSC Approves Non-Profit Crypto Sales

The Financial Services Commission (FSC) permitted non-profit organizations to sell crypto donations starting June 1. This enables organizations to quickly convert crypto assets received as donations into cash. Crypto exchanges will also convert the assets collected from transaction fees into fiat currency. The crypto assets allowed for sale in South Korea are limited to digital currencies ranked within the top 20 by market size on the country’s five leading won-based exchanges. Additionally, exchanges are required to prevent conflicts of interest with users and minimize their impact on the market.

The FSC approved the new rules on May 20. With this step, crypto sales became possible for non-profit organizations. The FSC plans to implement more comprehensive regulations in the second half of 2025. However, transactions must use real-name accounts and comply with anti-money laundering (AML) regulations. 

This regulation is part of South Korea’s gradual lifting of crypto bans. The FSC will introduce broader rules to allow publicly traded companies to participate more easily in crypto trading. Thus, South Korea is entering an important new era in the crypto market. Non-profit organizations can now sell crypto donations, enabling greater resource diversification. 

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VASPs Under Regulatory Scrutiny

In its 2025 NRA report, Luxembourg has classified Virtual Asset Service Providers (VASPs) as high-risk entities for money laundering. This risk is attributed to transaction volume, global client reach, legal structures, and the cross-border nature of crypto operations. The country had previously warned about the sector in its 2020 and 2022 reports, citing the digital and borderless characteristics of crypto assets as major vulnerabilities for financial crimes.

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The European Union is actively implementing the MiCA (Markets in Crypto-Assets) regulation to harmonize crypto laws across its 27 member states. Since January, crypto companies have begun obtaining licenses to operate legally. In May, Kraken launched regulated crypto derivatives trading, and Crypto.com secured a similar license. However, not all players comply—Tether (USDT) refused to align with MiCA’s rules and was consequently delisted from Binance, Coinbase, and Crypto.com across EU platforms.

Crypto’s Role in Money Laundering Grows

With crypto’s increasing role in global finance, it’s also becoming a tool for illicit activity. Earlier this month, Hong Kong authorities arrested 12 individuals for laundering $15 million using over 500 bank accounts and cryptocurrency. Meanwhile, in Europe, 17 suspects were detained in connection with a “mafia crypto bank” accused of laundering €21 million ($23.5 million). Authorities seized over $5 million in cash, crypto, firearms, and luxury vehicles during the crackdown.

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The United Kingdom to Collect Data 

With the new regulation, HMRC imposes a clear obligation on crypto companies. Companies must collect individual users’ full names, dates of birth, home addresses, and tax identification numbers. For corporate users, business names, addresses, and company registration numbers are required. 

Companies must record all transactions, including wallet-to-wallet transfers. They must log the type of crypto asset, the amount, the type of transaction, and the date for each transaction. These data must be reported directly to HMRC every year. The first report, covering transactions from 2026, must be submitted by May 31, 2027. Companies failing to comply may face fines of up to £300 per user. 

Transparency and Tax Compliance 

Officials aim to protect consumer rights and strengthen financial order with the regulation. The government also seeks to prevent tax evasion and align with the MiCA regulations in Europe. HMRC recommends that firms begin preparations immediately. 

Mark Aruliah, EMEA Regional Director at Elliptic, called this move an inevitable development. According to him, the crypto industry must adapt to such legal frameworks. Aruliah stated, “Clear rules will expand reporting services. This will also increase trust in the market.” 

He noted that smaller enterprises might be more affected by this obligation. However, he emphasized that every step toward transparency is both inevitable and overdue. “These obligations align with the general reporting systems in the financial world,” he said. With this move, the government aims to bring transparency not only to cross-border transactions but also to all transactions within the UK. This approach goes beyond global alignment and directly impacts the domestic market. 

Crypto Sector Faces Extensive Oversight 

The new regulation brings the crypto sector closer to the traditional financial system. Each company will now maintain detailed transaction records. The government aims to both protect users and boost tax revenues. Therefore, crypto companies should establish the necessary technical and legal infrastructure without waiting for 2026. This new system marks an important step for tax compliance in the United Kingdom. The enforcement follows the Coinbase data breach. 

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WSJ alleged that the Binance CEO was involved in a cryptocurrency deal connected to Trump. But CZ explicitly denied these claims on social media, stating he is not part of such a deal. 

WSJ also claimed that financial or strategic support was provided to the crypto project. The reports suggested CZ played an active role in the project and that this could impact crypto markets. However, CZ denies any role in brokering deals for World Liberty Financial, a crypto project linked to Trump’s close circle. CZ emphasized that Binance operates under principles of transparency and reliability. He also highlighted that misleading news can have serious consequences. He clearly stated the allegations are unproven and baseless. 

Another hit piece from Wall Street Journal. WSJ instead of doing journalism, has pretty much resorted to Cunningham’s Law, with negative intentions.

"Cunningham's Law: The best way to get the right answer on the Internet is not to ask a question; it's to post the wrong answer."…

— CZ BNB (@cz_binance) May 23, 2025

These allegations caused short-term fluctuations in crypto markets. However, CZ’s quick and clear denial reduced uncertainty in the markets. Binance shares only its current strategies and projects on official social media accounts. 

Binance’s Regulatory Compliance and Market Trust 

Being associated with such claims is closely monitored by market participants for major companies and CEOs like Binance. As one of the most influential players in the sector, Binance continues to maintain market trust and transparency. CZ’s statements are an important indicator of this stance. Additionally, Binance obtains licenses in multiple countries to comply with global regulatory environments and actively manages compliance processes. The company increases technological investments to prevent financial crimes and protect customers. With these steps, crypto exchange aims to operate legally. 

CEO Changpeng Zhao clearly denied WSJ’s allegations about a Trump-backed crypto deal. This was an important development for both the company and crypto markets. Clarifying false claims prevented speculation and strengthened crypto exchange position in the sector. Investors continue to closely follow official statements and reliable news sources. 

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Kima Joins Mastercard’s Sandbox Program

Kima, a decentralized settlement protocol, has integrated into Mastercard’s sandbox initiative. This integration allows prepaid cards to be topped up with USDC and Tether’s USDt stablecoins directly from self-custody wallets. The solution supports over 10 different blockchain networks.

Kima CEO Eitan Katz emphasized the practicality of stablecoins for everyday use, noting the system removes intermediaries and simplifies crypto-to-fiat conversion. “Our goal at Kima is to eliminate barriers between digital assets and traditional finance,” Katz stated.

Interoperable and Asset-Agnostic Infrastructure

Katz described Kima’s infrastructure as asset-agnostic and built for interoperability. The protocol supports public blockchains, private ledgers, and traditional banking systems — simplifying cross-ecosystem value transfer.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

This initiative aligns with Mastercard’s broader mission to mainstream stablecoins. Katz added that crypto and fiat shouldn’t be seen as opposites, but rather as complementary tools in the modern financial ecosystem.

Supporting ECB’s Digital Euro Initiative

Earlier this month, the European Central Bank (ECB) selected Kima as one of 70 private-sector firms to collaborate on the digital euro initiative. ECB board member Piero Cipollone praised the range of proposals, calling them a “catalyst for financial innovation” in Europe.

Despite its institutional integrations, Kima ensures that users maintain full control over their private keys. Compliance checks, including AML and KYC, are managed externally, and every transaction is cryptographically validated at the protocol level.

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