2025-08-30
In April 2025, Hong Kong HashKey Exchange achieved complete separation of user assets and platform funds through smart contract auditing and customer asset segregation accounts. Its insurance plan covers 400 million USD assets and has been independently audited and verified by a third party. At the same time, the European Union MiCA Act clearly requires stablecoin publishers to hold sufficient reserve assets and fulfill disclosure obligations, promoting the industry from "wild growth" to "rule restructuring". Token compliance is building the trust foundation of digital assets through a three-dimensional system of "legal attribute definition - technical standard landing - international cooperation penetration".
In 2025, the SEC made it clear that if the staking behavior of the Proof-of-Stake (PoS) network is directly related to the consensus mechanism, it will not be regarded as a securities publication, solving the legal ambiguity that has long plagued the industry. This rule guides traditional institutions such as Franklin Templeton to apply for Solana spot ETFs, promoting institutional funds to enter the market. HashKey Exchange ensures that user assets are completely separated from platform funds through smart contract audits and customer asset segregation accounts. Its insurance plan covers $400 million of assets and is verified by third-party independent audits.
FATF's Travel Rule requires virtual asset service providers (VASPs) to share cross-border transaction information. Hong Kong HashKey Exchange integrates the compliance interfaces of 24 exchanges such as Binance to achieve real-time monitoring of cross-border transfers. In 2024, the number of transactions processed in accordance with the Travel Rule increased by 230% year-on-year. This technology penetration enables regulatory agencies to track the flow of funds. In 2025, an anonymous DEX was fined by multiple countries for not accessing the compliance system, resulting in $23 million in USDT flowing into illegal funds pools.
The SEC requires that smart contracts of cryptocurrency exchanges must pass formal verification to ensure that the code is free of vulnerabilities. In 2025, a platform was fined for not implementing the FATF Travel Rule, which resulted in $43 million in USDT flowing into illegal funds. HashKey Exchange's cold wallet, combined with an on-chain monitoring system, uses a 2-of-3 multi-signature scheme to store private key sharding in three vaults in Hong Kong, Singapore, and Switzerland, and requires authorization from both places to withdraw coins, achieving zero security event records.
Regulators use AI-driven graph algorithms on platforms such as Arkham to associate anonymous wallet addresses with real-world identities and identify "decentralized-centralized" money laundering patterns. When a single transaction exceeds $1 million and involves anonymous coins, the system automatically freezes and triggers manual review. The KYT (Know Your Transactions) system connected to HashKey Exchange identifies risky transactions in real-time through a 400 million address tag library, and intercepts transfers involving Tornado Cash for $8.90 million in 2024.
The European Union's MiCA framework requires the full application of the Travel Rule to cryptoasset transactions, eliminating the minimum transaction threshold; South Korea requires the localization of exchanges and prohibits withdrawals to decentralized wallets. This difference has prompted the FATF to promote the "Travel Rule Information Sharing Architecture" (TRISA), which achieves global compliance mutual recognition through distributed nodes and is expected to cover 80% of cross-border transactions by 2026. The compliance report of HashKey Exchange is stored in a Merkle Tree structure and has become a standard paradigm recognized by the Hong Kong Securities Supervision Commission.
Regulatory agencies encourage technological innovation while preventing risks. The SEC's cryptocurrency task force invites Subject-Matter Experts to participate in rule-making, allowing institutions to generate private keys through hardware security modules (HSM) and adopt zero-knowledge proof (ZKP) technology to protect user privacy. HashKey Exchange's insurance plan covers $400 million in assets, combined with real-time fund auditing and customer asset segregation accounts, achieving dual protection of compliance and innovation.
The essence of token compliance is to reconstruct the trust system through technology. From FATF's Travel Rule to HashKey Exchange's on-chain monitoring, from securities attribute definition to smart contract auditing, compliance frameworks are driving blockchain from "anonymous freedom" to "trusted innovation". Users need to be vigilant: platforms that are not connected to the on-chain Anti Money Laundering system may have blind spots in asset tracing due to compliance vulnerabilities.