HashKey Exchange, a Hong Kong-based exchange, announced the temporary suspension of digital assets and withdrawals to and from Binance.

In a statement on Friday, the company said the decision was made in response to a policy update implemented by HashKey Exchange.

According to the announcement, starting May 10, 2024, HashKey Exchange will no longer accept deposits of assets with Binance wallet addresses.

Additionally, the exchange will not allow all withdrawals from Binance recipient addresses starting May 17, 2024.
It is important to note that whitelisted deposits and withdrawals made without an address will not be affected by these changes.

HashKey Exchange has provided links for users to access its policies regarding VA deposits and withdrawals from offline addresses.

HashKey launches global forum

The move against Binance comes shortly after HashKey Group officially launched its new global trading platform, which offers more than 20 currencies and targets international users not served by HashKey Hong Kong.

As previously mentioned, the new website has obtained a digital business license in Bermuda to provide high-quality business services.

Through HashKey Global, individual investors can trade more than twenty codes and coins, including Tether (USDT) and USD Coin (USDC).

Group plans to announce its future operations in the first quarter after launch.

HashKey Group is Asia’s leading end-to-end financial services provider.

The company offers a variety of services in all areas of digital assets, from business, maintenance, investment and technology to Web3 infrastructure.

Binance verification issue persists

Earlier this month, the Philippine Securities and Exchange Commission, the National Telecommunications Commission (NTC), which governs ISPs in the country, suspended Binance for blocking the exchange.

Philippines The SEC’s ban on Binance is not unique as the exchange has faced regulatory scrutiny around the world.

Last year, the Commodity Exchange Commission (CFTC) filed criminal charges against Binance for allegedly operating an illegal asset exchange and violating government regulations.

Similarly, the US Securities and Exchange Commission charged Binance Holdings LTD and former CEO Changpeng Zhao (CZ) with allegations of illegal trading, exchanges, clearinghouses, and issuance and sale of securities.

Binance and CZ pleaded guilty to multiple federal charges on November 21, 2023, including money laundering and unauthorized funds transfers.

CZ later resigned as CEO of Binance as part of his agreement with the DOJ.