HashKey Exchange Suspended Deposits And Withdrawals From Binance-Associated Addresses
In Brief
HashKey Exchange will halt deposits and withdrawals linked to Binance-related addresses due to changes in platform policy.
Hong Kong-licensed cryptocurrency exchange HashKey Exchange announced its decision to discontinue support for deposits and withdrawals linked to cryptocurrency exchange Binance-related addresses due to changes in platform policy. Previously, HashKey had specified its acceptance of deposits solely from Binance, marking it as the sole third-party exchange.
Cryptocurrency deposits originating from Binance addresses will cease from 00:00 UTC on May 10th. Furthermore, withdrawals to Binance-related addresses will also be halted from 00:00 UTC on May 17th. However, transactions involving whitelisted unhosted wallet addresses will remain unaffected by these changes.
Previously, the exchange had disclosed intentions to enable withdrawals from Bybit, OKX, and an additional 24 exchanges in the future, alongside Binance. However, it has since scaled back its integration plans to focus solely on Binance. Presently, withdrawals are restricted to whitelist addresses exclusively.
These regulations stem from the exchange operating as a domestic platform in Hong Kong, aligning with the city’s recently implemented Travel Rule for virtual asset service providers (VASPs), including cryptocurrency exchanges which is consistent with the guidelines established by the Financial Action Task Force (FATF) on an international level.
HashKey Group Expands Crypto Offerings with Launch of HashKey Global Exchange
HashKey Exchange, supported by HashKey Group, the largest licensed cryptocurrency exchange operator in Hong Kong, offers comprehensive trading services tailored for both professional and retail investors. Recently, HashKey Group unveiled its latest cryptocurrency exchange, HashKey Global, offering trading pairs for 21 cryptocurrencies and serving qualified retail customers worldwide. However, users from mainland China, Hong Kong, and the United States are excluded from accessing the platform’s services.
Unlike the widespread crackdown on cryptocurrency trading and mining observed in neighboring mainland China, Hong Kong extended a warm welcome to cryptocurrency-focused firms in the previous year. In June 2023, the city officially launched its cryptocurrency licensing regime for trading platforms, allowing licensed exchanges to provide retail trading services. To date, Hong Kong has granted licenses to two platforms — HashKey Exchange and OSL.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
