🚨 Big Crypto Wake-Up Call from FATF 🚨
The Financial Action Task Force (FATF) just dropped some serious heat on the crypto space. According to their latest report, only 40 out of 138 countries are actually doing a decent job regulating crypto properly. 😬
And get this — over $51 billion in crypto was linked to illicit activity in 2024 alone. That’s billion with a B. Most of it flowed through stablecoins, which are supposed to be the “safe” option. Instead, they’re apparently the go-to for shady stuff like terrorism financing, drug trafficking, and even North Korea doing its hacker thing.
Oh, and remember that massive $1.5B ByBit hack earlier this year? Yeah… FATF strongly hints North Korea was behind that one too. 😳
Moral of the story: regulators aren’t playing anymore. Expect stricter crypto rules, especially around stablecoins and cross-border transfers. Might be good for the long run, but the heat is definitely on.
Stay sharp out there. 🔍💸