WASHINGTON, Jan. 21, 2026  — The Federal Financial Education Institute (FFEdu) today released its 2025 observation brief, “TBML Enters the ‘Stablecoin Settlement Layer’ Era: 2025 Observation Brief,” offering a practical, evidence-graded framework for understanding how trade-based money laundering (TBML) is evolving as stablecoins become a de facto settlement instrument in certain cross-border value-transfer ecosystems.