DAAMC Launches In Hong Kong To Boost Stablecoin Compliance
The Digital Asset Anti-Money Laundering Council (DAAMC), an industry-led nonprofit supported by the Hong Kong Virtual Assets Industry Association (HKVAIA), has officially launched to strengthen stablecoin and crypto compliance in Hong Kong. The initiative focuses on creating a safer and more transparent financial ecosystem by uniting regulated institutions and industry leaders.
DAAMC’s mission aligns closely with the Hong Kong Monetary Authority’s (HKMA) Guideline on Anti-Money Laundering and Counter-Financing of Terrorism for Licensed Stablecoin Issuers. The council also explores international best practices such as on-chain identity verification and crypto transaction monitoring to ensure Hong Kong becomes a hub for compliant and widely adopted digital assets.
Industry Collaboration And Founding Members
The council was founded by four major players:
- HashKey Group – A leading digital asset financial services group with global operations.
- RD InnoTech Limited – A subsidiary of RD Technologies, part of HKMA’s Stablecoin Issuer Sandbox.
- Beosin – Blockchain security and compliance firm specializing in AML/CFT and smart contract audits.
- SlowMist – A blockchain threat intelligence company offering AML/CFT and cybersecurity solutions.
By combining expertise in crypto compliance, blockchain analytics, threat intelligence, and stablecoin innovation, DAAMC seeks to build an ecosystem that connects traditional finance with emerging Web3 solutions.
A Strategic Response To Hong Kong’s Digital Finance Push
Hong Kong is rapidly establishing itself as a leader in the global crypto and stablecoin markets through initiatives like the Digital Asset Policy Statement 2.0 and the Stablecoins Ordinance. DAAMC supports this vision by fostering regulatory dialogue, professional education, and responsible innovation.
The organization plans to publish two AML technical reports on stablecoins and will host a seminar this month to discuss strategies for compliance and innovation. These activities are expected to accelerate mainstream crypto adoption while ensuring financial stability.
Mission And Long-Term Impact
DAAMC will serve as a platform for banks, licensed Virtual Asset Service Providers (VASPs), and stablecoin issuers to:
- Develop best practices for crypto and stablecoin compliance.
- Promote regulatory communication between industry and government.
- Support education and training in AML/CFT tailored for digital assets.
- Encourage responsible innovation balancing risk with business growth.
With Hong Kong’s new Stablecoin Ordinance taking effect in August 2025, DAAMC is positioning itself as a central driver of trust, compliance, and sustainable development in the crypto ecosystem.
Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.