作者:HIBIKI,加密城市
FATF:穩定幣成非法交易首選
根據防制洗錢金融行動工作組織(FATF)最新發表的 42 頁報告指出,穩定幣是目前非法交易中(包含規避制裁)最受歡迎的虛擬資產,參與者包含伊朗與北韓等國家,因此呼籲針對穩定幣發行商實施更嚴格的監管。
FATF 曾在今年 1 月表示,穩定幣佔據大部分鏈上非法活動的交易量。該組織估算,在 2024 年期間,與詐騙及欺詐相關的非法穩定幣活動金額大約達到 510 億美元。
北韓、伊朗都愛用穩定幣
FATF 進一步說明,北韓的拉撒路集團(Lazarus Group)等組織利用穩定幣採購軍事設備;而伊朗的伊斯蘭革命衛隊(Islamic Revolutionary Guard Corps)也靠穩定幣獲取無人機零件;恐怖組織與毒品走私集團也大量依賴泰達幣($USDT)與 USDC,進行資金轉移與洗錢。
2025 年 7 月 2 日,USDT 發行商 Tether 進行史上最大規模的伊朗關聯資金凍結行動,凍結了 42 個加密貨幣錢包地址,其中超過一半與當地交易所 Nobitex 有大量關聯。
作為專注國際反洗錢的全球標準制定機構,FATF 指出穩定幣具備價格穩定性與高流動性等特徵,因此容易成為犯罪分子眼中理想的資金轉移工具。
無託管錢包成漏洞,非法接收穩定幣金額創紀錄
FATF 在其 2026 年 3 月的最新報告中再次警告,與美元掛鉤的穩定幣已經成為非法金融活動的關鍵工具。
該組織引用區塊鏈分析公司 Chainalysis 的報告說明,在 2025 年高達 1,540 億美元的非法虛擬資產交易量中,穩定幣佔了 84%,跟 2020 年以比特幣為主的非法交易大相逕庭。
圖源:Chainalysis | 在 2025 年高達 1,540 億美元的非法虛擬資產交易量中,穩定幣佔了 84%
此外,根據區塊鏈分析機構 TRM Labs 於 2 月中旬發表的報告,非法實體在 2025 年共接收了 1,410 億美元的穩定幣,創下五年來的最高紀錄。報告指出,去年整體穩定幣活動曾多次突破每月 1 兆美元的規模,與制裁相關的活動佔非法虛擬資產資金流動的 86% 。
報告強調,惡意行為者常透過跨鏈技術、去中心化交易所與場外交易經紀商隱藏資金來源。 FATF 指出,透過無託管錢包進行的點對點傳輸是關鍵漏洞,這類交易在缺乏反洗錢控制的環境下進行,讓監管機構難以追蹤地理位置與實際受益人。
圖源:FATF 報告 | FATF 報告指出,透過無託管加密錢包進行的點對點虛擬資產傳輸是關鍵漏洞
穩定幣市值突破 3 千億鎂,規範急需補網
要注意的是,FATF 沒有呼籲要把穩定幣全面納入黑名單,但強烈敦促各國將反洗錢義務加諸於穩定幣發行商及中介機構。
FATF 建議穩定幣發行商,應善用智能合約控制功能,建立許可名單與拒絕名單以限制特定錢包交易。發行商應具備隨時攔截、凍結與銷毀次級市場可疑穩定幣的技術能力。針對跨國營運挑戰,FATF 則鼓勵各國建立跨國監管學院來加強資訊共享與聯合監管。
目前全球穩定幣市場價值已超越 3,000 億美元。隨著採用率加速並與傳統金融深度整合,FATF 認為,全球監管機構必須迅速採取行動並導入區塊鏈分析工具,盡快填補法規與合規漏洞。
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