A UN Office on Drugs and Crime report described Huione’s Haowang marketplace as a comprehensive platform offering tools for cybercrime, supporting FinCEN’s enforcement rationale.

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Haowang Guarantee has made Huione Group a ‘one-stop shop’ for criminals to launder crypto obtained through illicit activities, and ultimately convert it to fiat currency, the Treasury said.
The proposed rulemaking follows a recent report by the United Nations Office on Drugs and Crime, which described Huione’s online marketplace Haowang as a ‘one-stop-shop’ for illicit cyber actors seeking infrastructure to conduct cyber fraud.