FinCEN Moves to Sever Huione Group’s US Financial Access Over Crypto Laundering Allegations

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-05-03 06:56:02

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has taken decisive action against Cambodia-based Huione Group, proposing to cut off its access to the US financial system. The move comes amid allegations that Huione facilitated billions in illicit crypto transactions linked to North Korean hackers and fraud networks.

Under Section 311 of the USA PATRIOT Act, FinCEN seeks to designate Huione as a primary money laundering concern. If finalized, the rule would force US banks to terminate all correspondent relationships with Huione and its affiliates. The case highlights growing regulatory scrutiny of crypto’s role in transnational financial crime.

By:

Log in to Reply

Circle Rejects Ripple’s $5B Offer, Eyes $10B Valuation in Upcoming IPO

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.