Treasury | Crypto

The US Treasury has proposed cutting the Huione Group's access to the US banking system, accusing it of being involved in laundering crypto. The US Treasury Department is seeking to bar the Cambodia-based Huione Group from accessing the American banking system, accusing the company of helping North Korea’s state-sponsored Lazarus Group launder cryptocurrency. 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. Huione Group has established itself as the “marketplace of choice for malicious cyber actors” like the Lazarus Group, who have “stolen billions of dollars from everyday Americans,” US Treasury Secretary Scott Bessent said in a May 1 statement. Read more

Tether increased its exposure to US Treasuries by more than $3 billion between quarters while posting a steep year-over-year decline in quarterly profits. According to its latest attestation report published on April 30, Tether’s combined holdings of US Treasury bills, reverse repurchase agreements, and money market funds with Treasury exposure reached approximately $120 billion by […] The post Tether boosts US Treasury holdings by $3B amid YoY profit drop appeared first on CryptoSlate.