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peer-to-peer

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Xie Jiayin: The peer-to-peer program has covered over 2.2 million people, with rewards totaling 3.49 million USD

Bitget held an offline event today to celebrate its eighth anniversary. The head of the Greater China region, Xie Jiayin, reflected on the platform's eight-year development journey, stating that Bitget has gradually expanded from a single cryptocurrency trading platform to a panoramic exchange (UEX) covering diverse scenarios such as stocks, commodities, and AI trading. As of the second quarter, the trading volume of non-cryptocurrency assets accounted for 40%, with approximately 1 in every 4 new users starting their Bitget journey through rToken.Looking towards the next phase, Xie Jiayin stated that Bitget will continue to advance the UEX strategy, expand more diverse assets and trading scenarios, and improve institutional-grade custody and over-the-counter settlement infrastructure to meet the differentiated needs of various types of institutions through diversified custody and settlement models. Institutional services will also continue to be an important strategic direction for Bitget in the next phase.At the event, Bitget simultaneously disclosed the progress of the third batch of rewards for the "Peer Program": a total of $3,495,658 in rewards has been distributed, benefiting 2,277,318 participants. Xie Jiayin expressed that the platform hopes to implement "user first" into concrete actions through product development, service upgrades, and user feedback.

FATF: Peer-to-peer transfers of stablecoins have become a major money laundering risk, recommending issuers to introduce freezing and blacklisting mechanisms

The global anti-money laundering organization Financial Action Task Force (FATF) pointed out in its latest report that stablecoin peer-to-peer (P2P) transfers have become a key source of money laundering risk in the crypto ecosystem, especially when users trade directly through unmanaged wallets, making it more difficult to track and regulate related activities due to the lack of regulated intermediaries.FATF stated that stablecoins have now become the most commonly used virtual assets in illegal crypto transactions. According to Chainalysis data, approximately 84% of the $154 billion in illegal crypto transactions in 2025 involved stablecoins. The report recommends that jurisdictions require stablecoin issuers to have the technical capability to freeze, destroy, or blacklist assets involving suspicious addresses when necessary, and to embed compliance features such as allow-lists and deny-lists in smart contracts.FATF noted that compared to the highly volatile Bitcoin and Ethereum, stablecoins like Tether (USDT) and USD Coin (USDC) are increasingly being used by criminal networks for fund transfers and money laundering activities due to their price stability, high liquidity, and ease of cross-border transfer. Additionally, the report mentioned that North Korean hacker groups and entities linked to Iran are using stablecoins to launder proceeds from cybercrime and are converting funds into fiat currency through over-the-counter traders or peer-to-peer platforms.FATF calls for strengthened regulation of stablecoin issuers and encourages the broader adoption of blockchain analysis tools and anti-money laundering measures such as the "travel rule" within the crypto industry.
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