by: xpoolPosted on:

U.S. Treasury Blocks Huione Group Over Alleged North Korean Crypto Laundering

The U.S. Treasury Department has taken decisive action against the Huione Group, a Cambodia-based company accused of facilitating cryptocurrency laundering for North Korea’s state-backed Lazarus Group. On May 1st, the Financial Crimes Enforcement Network (FinCEN) proposed a rule prohibiting U.S. financial institutions from doing business with the Huione Group. This move aims to disrupt their illicit operations by cutting off access to correspondent banking systems.

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