US Treasury Targets Huione Group for Alleged Links to North Korea’s Cryptocurrency Money Laundering

The U.S. Treasury Department is taking action against the Huione Group, a Cambodia-based company accused of laundering billions in illicit cryptocurrency, potentially connected to North Korea’s notorious Lazarus group. The Treasury aims to prevent U.S. financial institutions from doing business with the firm by prohibiting correspondent or payable-through accounts under their proposed rule, according to the Financial Crimes Enforcement Network (FinCEN). This move seeks to close a loophole exploited by Huione and others operating through foreign entities.