Sanctioned Cambodian Lender Huione, Linked to Illicit Crypto, Halts Business After Bank Run: Report
NegativeCryptocurrency

- Huione, a Cambodian lender facing U.S. sanctions and allegations of money laundering, has ceased operations following a significant increase in withdrawal requests, which it attributed to a bank run. This development marks a critical moment for the company amid ongoing scrutiny of its financial practices.
- The shutdown of Huione highlights the broader implications of regulatory pressures on cryptocurrency platforms, particularly those linked to illicit activities. It raises concerns about the stability of similar entities in the sector and the potential for further regulatory actions in response to financial misconduct.
— via World Pulse Now AI Editorial System


