The Department of the Treasury of the United States takes steps to combat financial ties with the Hionione Group from Cambodia in relation to the alleged commitment to the laundry of billions in illegal funds related to crypto.
In the movement focused on potential threats of national security, the Treasury financial crime enforcement network proposed a principle that would prohibit Hionion’s access to the American financial system, citing links with hackers from North Korea and North of Cryptographic Frauds.
Proposed designation, announced Thursday, based on section 311 of the US Act, Patriot would recognize Hione Group as the main problem of money laundering. In the case of adopting, the principle would force us to cut off all correspondents of banking relations with Hione and its associated entities.
Finnce claims that cryptographic seizures, fraud and abuse of Stablecoin
The State Treasury claims that Hionion played a significant role in washing over $ 4 billion from 2021 to 2025, including $ 37 million allegedly related to the North Korean collective group Lazarus.
According to the statement of Finn, Hionione Group facilitated the laundry in the field of cybercrime, from cryptographic investment fraud to raucous hacker incidents.
The group reportedly supported transnational criminal organizations operating from Southeast Asia, offering services, including cryptocurrency exchange, processing online payments and on the market of illegal cybernetic actors.
The US treasure emphasized that such operations allowed Hionion to become the main center of activities related to criminal financing, and its platforms are routinely used for revenues from cybernetic theft.
One of the group’s latest events includes the introduction of their own Stablecoin. Blockchain Analytics Elliptic before tiled Transfer in response to growing regulatory repression, which suggests that he was to bypass the freezing of assets and financial supervision.
Finnic noticed that Stablecoin, in combination with the services of FIAT and Cryptocurrencies Hionion, enabled a high level of transactional anonymity, thus complicating efforts to track illegal finances.
Treasury Secretary Scott Bessent said that the proposed measure aims to “degrade the ability of these groups to wash their incorrect profits” by breaking access to the American banking system.
The transfer is also the findings of the UN Office for drugs and crime, which characterized the Hionione Hanowg market as a comprehensive ecosystem supporting the infrastructure of the cybercrimine. According to the UN report, HaWANG provides everything from false documentation to a set of tools and payment systems.
International prospects for reaction and enforcement
The proposal to limit Hionion appears among the growing global fears about the escalate in financial crimes related to cryptocurrencies. American officials claim that cutting off Hionion’s access to an American banking system would send a mighty signal to similarly structural platforms operating under the radar.
However, the UN also warned that similar groups are still appearing in Southeast Asia, potentially undermining the efforts of enforcement, focused on Hionion itself. The public period of comments for the proposed FINCENA rule will remain open for 30 days after publication in the federal register.
In the meantime, the State Treasury should continue to cooperate with international partners and private sector institutions in order to track digital assets and limit networks facilitating cybernetic crime.
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