Digital Asset Anti-Money Laundering Council (DAAMC) Launched with Support from the Hong Kong Virtual Assets Industry Association (HKVAIA) to Strengthen Stablecoin Compliance and Financial Integrity

USA - English

• APAC - English
• APAC - Traditional Chinese

HONG KONG, Aug. 19, 2025 /PRNewswire/ -- The Digital Asset Anti-Money Laundering Council (DAAMC), a groundbreaking, industry-led nonprofit organization supported by the Hong Kong Virtual Assets Industry Association (HKVAIA), proudly announces its launch. DAAMC is dedicated to promoting compliant stablecoin issuance and enhancing financial integrity in Hong Kong's digital asset ecosystem through collaboration among regulated financial institutions to develop and promote best-in-class Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) standards and practices.

DAAMC responds to the Hong Kong Monetary Authority's (HKMA) Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Stablecoin Issuers) and explores emerging global industry compliance standards, such as on-chain identity verification, to ensure Hong Kong's regulated stablecoins achieve mainstream adoption by balancing risk control with sustainable business development.

The Council, initiated by four leading organizations with diverse expertise, is committed to shaping the future of digital finance in Hong Kong, focusing on stablecoin innovation and compliance: 

• HashKey Group: A leading digital asset financial services group in Asia with global operations. Its subsidiary, HashKey Exchange, is the licensed virtual asset exchange in Hong Kong, holding Type 1, Type 7, and AMLO licenses issued by the Hong Kong Securities and Futures Commission.
• RD InnoTech Limited (a subsidiary of RD Technologies Group): A participant in the HKMA Stablecoin Issuer Sandbox, advancing compliant stablecoin issuance, ecosystem development, and use-case expansion. 
• Beosin: A leading blockchain security and compliance solutions company specializing in smart contract security audit, AML/CFT tools, and blockchain forensics.
• SlowMist: A leading blockchain threat intelligence firm, providing services such as security audits, red teaming, AML/CFT solutions, and more.

This diverse coalition reflects DAAMC's commitment to uniting industry expertise to address the unique AML/CFT challenges of digital assets, including stablecoins, to achieve large-scale adoption and integration with traditional finance. By integrating expertise in digital asset trading, stablecoin innovation, blockchain analytics, and threat intelligence, DAAMC aims to establish a compliant ecosystem, setting a global benchmark for financial integrity in Hong Kong's stablecoin issuance.

A Strategic Response to Hong Kong's Stablecoin Ambitions

Hong Kong is solidifying its position as a global leader in digital finance through the government's Digital Asset Policy Statement 2.0 (June 2025) and the recently effective Stablecoins Ordinance. DAAMC's establishment aligns with this vision, directly supporting the HKMA's Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Stablecoin Issuers) to ensure regulated stablecoins comply with global financial standards while promoting innovation. DAAMC actively engages with industry discussions on regulatory strictness, committed to researching and exploring how to balance regulatory requirements with business development, enabling Hong Kong-issued compliant stablecoins to achieve mainstream adoption by regulated institutions and traditional enterprises.

Initiated by founding members HashKey Group, RD InnoTech Limited, Beosin, and SlowMist, DAAMC is dedicated to promoting digital asset industry development and collaboration, through activities such as offline seminars to engage relevant industry stakeholders in exploring innovative compliance solutions for stablecoins. DAAMC will soon release two AML technical reports on stablecoins to provide further industry guidance. At the end of this month, DAAMC will host a seminar, bringing together industry experts to discuss stablecoin compliance and innovation strategies. All industry stakeholders are cordially invited to participate.

DAAMC's Mission and Impact

DAAMC serves as a central platform for regulated financial institutions—including banks, licensed Virtual Asset Service Providers (VASPs), and future licensed stablecoin issuers—to collaborate on critical initiatives. Led by its founding members, the Council will focus on: 

• Developing Industry Best Practices: Creating practical guidelines for on-chain identity verification, Travel Rule implementation, risk-based digital asset management, and AML frameworks for Decentralized Finance (DeFi) to ensure compliance aligns with traditional financial standards. 
• Fostering Regulatory Dialogue: Building trusted communication channels with regulators and law enforcement to shape effective policies that support stablecoin mainstreaming. 
• Promoting Professional Education: Partnering with academic institutions to elevate AML/CFT expertise tailored to stablecoin issuance and digital asset compliance. 
• Encouraging Responsible Innovation: Balancing risk control with sustainable business development, ensuring regulated stablecoins thrive in Hong Kong's compliant ecosystem.

DAAMC welcomes participation from a wide range of stakeholders, including Institutional Members (banks, VASPs, stablecoin issuers), Associate Members (audit firms, legal firms, professional bodies such as ACAMS and HKIB), and Educational Partners. By joining DAAMC, organizations will shape policy, manage risks, and demonstrate a commitment to financial integrity while promoting the mainstream adoption of regulated stablecoins.

A Call to Action

With Hong Kong's Stablecoins Ordinance taking effect in August 2025, DAAMC's launch underscores its commitment to driving digital asset industry compliance and integrity through collaborative leadership. DAAMC invites leading industry companies, compliance institutions, and innovative enterprises to join this transformative initiative. 

For more information about DAAMC or membership opportunities, please visit https://www.hkvaia.io or contact DAAMC at [email protected].

SOURCE RD Technologies; Hong Kong Virtual Assets Industry Association