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Block on Crypto-Linked Company from the USA! "Prohibited from Entering the USA!"
A ban proposal has come from the USA to this company. Accordingly, the Financial Crimes Enforcement Network (FinCEN), proposed banning the entry of the Cambodia-based Huione Group into the US financial system.
FinCEN accused the company of money laundering and being linked to North Korean hacker groups that laundered over 4 billion dollars in illegal funds between 2021 and 2025.
It has been stated that Huione has become the preferred market for cryptocurrency criminals.
In its statement, "Huione Group has been laundering illegal proceeds from cyber crimes for years – namely, the cyber heists carried out by Lazarus Group. This network offers a variety of services, from an online marketplace where useful products for committing cyber fraud are sold, to payment services often used in money laundering in fiat currencies and CVC, as well as a recently developed stablecoin." said FinCEN.
FinCEN stated that 37 million dollars of the 4 billion dollars laundered came from cryptocurrencies, which are linked to North Korea's "cyber heists."
Treasury Secretary Scott Bessent stated on Thursday, "The proposed action will cut off Huione Group's access to correspondent banking and reduce the ability of these groups to launder their illicit profits."
The National Bank of Cambodia also stated that it prohibits payment companies from conducting transactions or trading in digital assets in the country, and revoked Huione's local banking license in March.