§ 1010.664. Special measures regarding Huione Group.
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/us/cfr/t31/s§ 1010.664·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Definitions. For purposes of this section, the following terms have the following meanings.
(1)Huione Group. The term "Huione Group" means all subsidiaries, branches, and offices of Huione Group operating as a financial institution in any jurisdiction outside of the United States, including Haowang Guarantee (formerly known as Huione Guarantee), Huione Pay PLC, and Huione Crypto Spółka Z Ograniczoną Odpowiedzialnością (d/b/a Huione Crypto).
(2)Correspondent account. The term "correspondent account" has the same meaning as provided in 1010.605(c)(l)(ii).
(3)Covered financial institution. The term "covered financial institution" has the same meaning as provided in 1010.605(e)(1).
(4)Foreign banking institution. The term "foreign banking institution" means a bank organized under foreign law, or an agency, branch, or office located outside the United States of a bank. The term does not include an agent, agency, branch, or office within the United States of a bank organized under foreign law.
(5)Subsidiary. The term "subsidiary" means a company of which more than 50 percent of the voting stock or an otherwise controlling interest is owned by another company.
(b)Prohibition on accounts and due diligence requirements for covered financial institutions---(1) Prohibition on opening or maintaining correspondent accounts for Huione Group. A covered financial institution shall not open or maintain in the United States a correspondent account for, or on behalf of, Huione Group.
(2)Prohibition on processing transactions involving Huione Group. A covered financial institution shall take reasonable steps not to process a transaction for the correspondent account in the United States of a foreign banking institution if such a transaction involves Huione Group.
(3)Special due diligence of correspondent accounts to prohibit transactions.
(i)A covered financial institution shall apply special due diligence to its foreign correspondent accounts that is reasonably designed to guard against their use to process transactions involving Huione Group. At a minimum, that special due diligence must include:
(A)Notifying those foreign correspondent account holders that the covered financial institution knows or has reason to believe provide services to Huione Group that such correspondents may not provide Huione Group with access to the correspondent account maintained at the covered financial institution; and
(B)Taking reasonable steps to identify any use of its foreign correspondent accounts by Huione Group, to the extent that such use can be determined from transactional records maintained in the covered financial institution's normal course of business.
(ii)A covered financial institution shall take a risk-based approach when deciding what, if any, other due diligence measures it reasonably must adopt to guard against the use of its foreign correspondent accounts to process transactions involving Huione Group.
(iii)A covered financial institution that knows or has reason to believe that a foreign bank's correspondent account has been or is being used to process transactions involving Huione Group shall take all appropriate steps to further investigate and prevent such access, including the notification of its correspondent account holder under paragraph (b)(3)(i)(A) of this section and, where necessary, termination of the correspondent account.
(4)Recordkeeping and reporting.
(i)A covered financial institution is required to document its compliance with the notification requirement set forth in this section.
(ii)Nothing in paragraph
(b)of this section shall require a covered financial institution to report any information not otherwise required to be reported by law or regulation. \[90 FR 48311, Oct. 16, 2025\]
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§ 1010.664
Special measures regarding Huione Group.
Fed. Reg.×3
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