This paper presents a systematic study of security control mechanisms in data circulation and utilization, with a focused case analysis on Trusted Data Space construction. We propose a three-tier “Technology-Mechanism-Application” framework to address the dual demands of data security protection and value creation in data element marketization. The research identifies key challenges across technical, managerial, and institutional dimensions and elaborates on core security mechanisms including privacy computing (federated learning, secure multi-party computation, homomorphic encryption) and blockchain applications. Through the practical case study of Wenzhou City’s implementation, we demonstrate measurable improvements in data sharing efficiency and security control effectiveness. The study contributes a comprehensive security control framework and provides implementation pathways for trusted data ecosystems, with implications for both academic research and industrial practice.