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.