Stablecoins now dominate cryptocurrency transaction activity, representing over 60% of total volume while consistently maintaining at least 4% of the overall crypto market capitalization throughout 2024 and 2025.
Industry data from TRM Labs reveals that stablecoins constituted 28% of all crypto transactions in the first quarter of 2025, with 99% originating from legitimate financial activities including decentralized finance (DeFi), payment processing, and cross-border remittances.
Despite their mainstream adoption, stablecoins were implicated in 60% of illegal cryptocurrency transactions during the same period, including ransomware schemes, financial scams, and sanctions evasion attempts.
Addressing regulatory gaps, the U.S. Senate recently passed the GENIUS Act to establish federal oversight for stablecoin issuers. The legislation focuses on enhancing consumer protections, enforcing transparency standards, and restricting criminal exploitation of dollar-pegged digital assets.
Emerging markets continue driving adoption, with Latin America, sub-Saharan Africa, and Southeast Asia embracing stablecoins for their transaction efficiency and accessibility in international settlements amid volatile local currencies.