24/7 Cryptocurrency News

Hong Kong’s HashKey Exchange: New Guidelines Officially in Place to Align with Travel Rule

From the beginning of this year, Hong Kong's HashKey Exchange has formally implemented new regulations to comply with the Travel Rule.
Published by
Hong Kong’s HashKey Exchange: New Guidelines Officially in Place to Align with Travel Rule

Hong Kong’s HashKey exchange has officially integrated new rules to align with the Travel Rule from the start of this year.

The Hong Kong Travel Rule refers to a set of regulatory requirements for virtual asset service providers (VASPs), including crypto exchanges. This rule is in line with the international standards set by the Financial Action Task Force (FATF).

HashKey’s change comes as domestic exchanges have to focus on compliance in Hong Kong amid a series of legislative proposals.

Advertisement

HashKey changes rules for compliance

The change will significantly adjust the platform’s deposit and withdrawal processes, particularly in its interactions with third-party exchanges. HashKey initially planned to include 24 exchanges in this update, but has limited the integration to Binance as per the release last month.

Therefore, HashKey has only been supporting deposits of virtual assets from Binance Global since January 1. However, deposits from exchanges other than Binance will not be supported, although HashKey intends to gradually expand this list.

Withdrawal processes are also undergoing changes. This update maintains the current whitelisting process, but invalidates previously approved withdrawals to exchanges other than Binance. Importantly, addresses on Binance that were whitelisted earlier do not require revalidation.

HashKey Exchange emphasizes the importance of ensuring that all third-party exchange deposit and withdrawal arrangements are compliant with the new regulations after January 1, 2024.

Advertisement

Hong Kong makes series of legislative proposals

Simultaneously, Hong Kong is introducing a new regulation for stablecoins, which includes a mandatory licensing system.The Hong Kong Monetary Authority and the Financial Services and Treasury Bureau have jointly proposed the legislation to regulate the growing stablecoin market in the region. This initiative seeks to create a comprehensive regulatory framework.

The region is also making it easier for retail investors to engage in crypto ETFs. While there is a worldwide trend towards crypto spot ETFs, Hong Kong is welcoming this product but maintaining stringent regulatory and compliance standards.

Also Read: Hong Kong Unveils Ambitious Regulatory Framework For Stablecoins

Advertisement

Share
Shraddha Sharma

Shraddha's professional journey spans over five years, during which she worked as a financial journalist, covering business, markets, and cryptocurrencies. As a reporter, she has placed particular emphasis to learn about the market interaction with emerging technologies.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

MetaMask Launches Hyperliquid Perpetuals In-App, Plans To Integrate Polymarket

MetaMask has officially introduced perpetuals trading on its platform, powered by Hyperliquid. Meanwhile, the crypto…

October 8, 2025
  • 24/7 Cryptocurrency News

XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy

XRP holdings in corporate treasuries have now surpassed $11.5 billion in value. This follows news…

October 8, 2025
  • 24/7 Cryptocurrency News

FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?

Bitcoin and altcoins falter ahead of the FOMC Minutes release and Jerome Powell speech due…

October 8, 2025
  • 24/7 Cryptocurrency News

“Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs

Binance’s Changpeng “CZ” Zhao made a post suggesting the start of the BNB meme coin…

October 8, 2025
  • 24/7 Cryptocurrency News

CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP

Changpeng "CZ" Zhao's family office YZi Labs announced $1 billion Builder Fund to fuel BNB…

October 8, 2025
  • 24/7 Cryptocurrency News

Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage

Litecoin (LTC) has been under investors' radar recently, after a 10% rally over the past…

October 8, 2025