Huione Pay PLC

"Huione Pay PLC held a corporate registration in Cambodia as well as a payment services institution license, both of which have been revoked as of March 2025"; "In March 2025, National Bank of Cambodia stripped Huione Pay PLC of its banking license"; "FinCEN finds this claim unpersuasive and continues to assess that Huione Pay PLC is a component of Huione Group"

"which has been publicly characterized as a “rebrand” of Huione Pay"; "After that point, FinCEN assesses that H-Pay assumed Huione Pay PLC’s physical and operational footprint"; "FinCEN assesses that Huione Pay PLC changing its name to H-Pay presents another example of the Huione Group attempting to circumvent the impact of Huione Pay’s corporate delisting and loss of license"

"As of January 2025, Huione Pay PLC was registered as a payment services institution with the National Bank of Cambodia"; "Huione Pay PLC operates eight Cambodian domestic branch locations"; "Huione Pay PLC also advertises on social media that it has operated a branch in Laukkaing"

"Huione Pay PLC offers its customers the ability to trade CVC on different blockchains, and to convert CVC to or from various fiat currencies"; "Huione Pay PLC holds the local equivalent of a money transmitting business license issued by the Kingdom of Cambodia and engages in the exchange of CVC in a manner consistent with the definition of a money transmitting business"; "On multiple occasions between 2022 and 2024, a DPRK national with deep ties to the RGB, DPRK’s primary foreign intelligence organization, worked with Huione Pay PLC officials to transfer CVC and fiat currency"