The Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed on May 1 to prohibit US financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of the Huione Group.
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US Treasury wants to cut off Huione over ties to crypto crime
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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Treasury Department responsible for combating money laundering and safeguarding the financial system from illicit use.
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FinCEN proposed a rule to prohibit Huione Group from accessing the U.S. financial system due to its role in laundering billions through cybercrime and fraud schemes.
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