June 4, 2025

Letter Supporting FinCEN Action on Crypto Scams

ICBA submitted a comment letter in response to the Financial Crimes Enforcement Network’s notice of proposed rulemaking to designate the Cambodia-based conglomerate Huione Group as a primary money laundering concern and sever its connections to the U.S. financial system. ICBA said it strongly supports FinCEN’s actions, but cautioned that this move alone will not curtail the rapid growth of crypto scams.