HashKey Suspends Virtual Asset Transfers with Binance

On April 19, HashKey Exchange, a licensed platform in Hong Kong, announced changes to its policy concerning handling virtual assets (VAs). Effective May 10, 2024, at 00:00 UTC+8, the exchange will no longer allow VA deposits from Binance-hosted wallet addresses. Furthermore, starting May 17, 2024, at 00:00 UTC+8, HashKey will also prohibit VA withdrawals to Binance-hosted wallet addresses.

Details of the New Policy

According to the announcement from the HashKey Team, these policy adjustments are due to strategic changes within the platform. Previously, HashKey had designated Binance as the only third-party exchange from which it would accept deposits. The new policy delineates that while deposits and withdrawals to and from whitelisted unhosted wallet addresses will remain unaffected, any transactions linked directly to Binance’s hosted wallets will be ceased.

This policy shift marks a pivot in HashKey’s approach to digital asset transactions, directly impacting users who have previously relied on Binance as their primary conduit for such transfers. HashKey advises all users and clients to adjust their transaction strategies accordingly and ensure compliance with the new transfer guidelines.