$64B/yr industry where one operator alone had $15B in BTC seized by DOJ, and Huione Guarantee still moved $635M through Binance and OKX after being sanctioned — life sentences are theater when the economic incentive structure dwarfs the enforcement capacity. Huione already launched USDH (its own stablecoin) and a proprietary blockchain, building parallel financial rails faster than Cambodia's parliament can legislate against them. Operations will just migrate to Myanmar and Laos where enforcement is effectively zero, same playbook every time a SEA jurisdiction cracks down.

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