Huione Keeps Moving Money Despite Crackdown
You’d think being labeled a “primary money laundering concern” by U.S. regulators would slow things down. Not for Huione. The crypto platform, which supposedly shut down after a May 1st FinCEN designation, is still processing transactions—more than before, actually.
According to Chainalysis data, activity hasn’t just continued; it’s grown. The site vanished briefly, along with its Telegram channels, but resurfaced fast under a new domain (Huione.me). Same branding, same tokens—XOC and USDH—still listed. The Telegram groups? Still buzzing.
Why the Crackdown Didn’t Stick
FinCEN’s move was serious. They used a Patriot Act provision (Section 311) to cut Huione off from U.S. banks, no court order needed. It worked against Bitzlato last year. But here? Almost no visible disruption.
Maybe it’s because Huione’s users never really left. Smaller platforms like Tudou Danbao saw a brief uptick, but nothing close to Huione’s volume. People stuck with what they knew. Or maybe they just didn’t have better options.
The Bigger Problem: Enforcement Gaps
This isn’t just about one platform slipping through. It’s a reminder that stopping these networks takes more than a single agency acting alone. Huione’s still running because enforcement is patchy—different countries, different rules, slow coordination.
Chainalysis points out that blockchain analytics could help. Traditional methods miss things; tracking crypto flows in real time might not. But that requires everyone to work together, and well, that’s easier said than done.
For now, Huione’s still up. Its users? Still trading. And regulators? Probably scratching their heads.
