HashKey Crypto Exchange to Halt Binance Wallet Deposits and Withdrawals Starting Next Month
HashKey crypto exchange has announced that it will be halting deposits and withdrawals related to Binance wallet starting next month. The transition is set to begin on May 10th for deposits and May 17th for withdrawals, with the announcement coming amidst a time of challenges for the world and specifically for Binance.
The decision was made public on April 19 by Hong Kong’s licensed exchange HashKey, citing policy adjustments as the reason for the suspension of digital asset transactions with Binance. This move comes as a blow to Binance, which is already facing controversies and challenges.
In February, the Nigerian government banned Binance over concerns of currency manipulation, leading to the detention of one of Binance’s executives. Binance’s CEOs have acknowledged the difficulties they are facing, with Richard Teng expressing support for the Nigerian government and working towards a resolution.
In addition to the Nigerian ban, Binance recently settled a money laundering case with US regulators, agreeing to pay $4.3 billion and adhere to an independent compliance monitor for three years. This has added to the challenges facing the exchange.
The future of Binance remains uncertain as it navigates through these turbulent times. It remains to be seen if the exchange can emerge stronger from the current turmoil. Stay tuned for more updates on this developing story.
