The proposed rule would prohibit U.S. financial institutions from opening or maintaining correspondent accounts if implemented.
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US Treasury Moves to Cut Off Cambodia’s Huione Group From Financial System Over $4B Laundering Claims
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FinCEN proposed a rule in May 2025 that aims to prohibit U.S. financial institutions from maintaining accounts for Cambodia-based Huione Group, effectively severing its access to the global banking infrastructure in order to disrupt its role in laundering illicit funds linked to cybercrime and fraud.
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