Crypto

Sanctioned entities driving surge in cryptocurrency transactions despite enforcement efforts

Published

10 months ago

February 26, 2025

A report from Chainalysis has revealed that sanctioned jurisdictions and entities were responsible for nearly $16 billion in cryptocurrency transactions in 2024, fueled by increased activity on the mixing service Tornado Cash and a sharp rise in crypto usage in Iran, according to The Record, a news site by cybersecurity firm Recorded Future.Despite US Treasury sanctions imposed in 2022, Tornado Cash remained active, processing approximately $100 million per month last year.The service, which promotes its ability to obscure transaction trails, has been used for both privacy purposes and illicit activities. In 2024, about 25% of its inflows were linked to stolen funds, including $145 million allegedly taken by North Korean hackers, according to the report.Meanwhile, Iranian cryptocurrency transactions surged 70% year-over-year, reaching $4.18 billion in 2024. The increase was driven by economic instability, currency devaluation, and geopolitical tensions, with citizens using crypto to bypass financial restrictions.However, the number of exchanges dealing with Iranian entities has declined by 23% since 2022. Overall, global cryptocurrency transactions grew to $10.6 trillion in 2024, while illicit transactions dropped 24% to $45 billion, accounting for 0.4% of total volume, according to TRM Labs.

Crypto

Crypto Tax Pressure Reaches Congress as Lawmakers Face Urgent Push to Rewrite Federal Rules

Published

1 hour ago

December 17, 2025

Press Room

Lawmakers are confronting rising pressure to modernize cryptocurrency tax policy as uncertainty clouds compliance, threatens U.S. competitiveness, and forces Congress to weigh legislative action amid warnings that capital and innovation could move offshore.

Crypto

Cryptocurrency becomes trendy holiday gift option

Published

13 hours ago

December 16, 2025

Press Room

Cryptocurrency becomes trendy holiday gift option

PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.

A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.

The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.

“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”

Tager said people like receiving cryptocurrency because it has the potential to increase in value.

“There’s so much you can do with this technology and it’s still in its early days,” she said.

Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.

“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”

Gift-givers can also contribute to 529 plans for college and other education expenses.

“It’s that gift that potentially can keep on giving,” Prescod said.

For those still interested in giving cryptocurrency, experts recommend doing research first.

“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.

The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.

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Crypto

Visa Targets Banks and Fintechs With Stablecoin Advisory Launch as Adoption Pressure Tightens

Published

1 day ago

December 16, 2025

Press Room

Visa Targets Banks and Fintechs With Stablecoin Advisory Launch as Adoption Pressure Tightens

Visa is moving deeper into stablecoin-powered payments as adoption surges, launching a new advisory practice to help banks, fintechs, and enterprises design, assess, and deploy stablecoin strategies across global payment and treasury operations.