FinCEN Proposes to Sever H-Pay Service PLC and Other Huione Group Successor Entities from the U.S. Financial System

FinCEN issued a proposed rule amending its October 2025 Huione Group Final Rule to include Cambodia-based H-Pay Service PLC and any successor entity, aiming to sever those entities and other Huione Group successor entities from the U.S. financial system because the Huione Group was used to transfer and consolidate proceeds of cyber heists and virtual currency investment scams. The proposal is presented as a notice of proposed rulemaking to amend the definition of Huione Group as a financial institution operating outside the United States of primary money laundering concern.