US Treasury Targets Huione Group for Alleged Money Laundering: Ban Proposed

The U.S. Department of the Treasury has proposed banning the Cambodian firm Huione Group from the American financial system over alleged money laundering activities. The proposal, from the Financial Crimes Enforcement Network (FinCEN), is linked to accusations that Huione facilitates transactions for North Korean hackers. This move disrupts international financial flows and aims to sever Huione’s banking channels in the U.S., impacting crypto and fiat currency transactions.