HashKey, a Hong Kong-based cryptocurrency exchange, recently announced a significant policy change that will impact its users. Starting next month, HashKey will no longer accept deposits or process withdrawals to and from wallets associated with Binance.

The change, which was communicated through a statement released on April 19, will be implemented in two phases. Deposits to Binance will cease on May 10, followed by the suspension of withdrawals on May 17. While HashKey did not provide specific reasons for this decision, it cited a “policy change” as the primary driver.

Despite this adjustment, transactions involving cryptocurrencies to verified and authenticated unhosted wallet addresses, also known as whitelisted addresses, will remain unaffected. This move by HashKey adds to the challenges faced by Binance on a global scale, with recent incidents such as the Nigerian government’s ban on Binance due to concerns about currency speculation in the country.

During the Token 2049 event in Dubai, Binance executives addressed these challenges. CEO Richard Teng reassured stakeholders that the company is actively engaging with the Nigerian government to address the situation. Additionally, COO Noah Perlman highlighted the monitoring agreement with U.S. regulators, which was a result of Binance’s plea agreement with the U.S. Department of Justice following money laundering charges.

As the cryptocurrency landscape continues to evolve, it is essential for users to stay informed about policy changes and regulatory developments within the industry. Stay tuned for more updates and news on Global Crypto News to navigate the world of cryptocurrencies effectively.

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