On April 19, HashKey Exchange, a Hong Kong-licensed platform, disclosed modifications to its virtual asset (VA) management policy.

With effect from May 10, 2024, at 0:00 UTC+8, VA deposits from wallet addresses managed by Binance will no longer be accepted on the exchange. Furthermore, HashKey will forbid VA withdrawals to wallet addresses hosted by Binance as of May 17, 2024, at 0:00 UTC+8.

Specifics of the New Policy

The HashKey Team announced that these policy modifications are the result of platform strategy changes. Binance was the only third-party exchange that HashKey has previously said it would accept deposits from.

The updated policy states that any transactions connected directly to Binance's hosted wallets will be blocked, while deposits and withdrawals to and from whitelisted unhosted wallet addresses would be unaffected.

Users who have historically relied on Binance as their main conduit for such transfers would be directly impacted by this policy modification, which represents a sea change in HashKey's attitude to digital asset transactions.

All users and clients are advised by HashKey to modify their transaction strategies in accordance with the updated transfer standards.