Hong Kong’s Crypto Ambitions Get a Guarded Reception

(Bloomberg) — Hong Kong kicked off a new crypto regulatory regime in a bid to nurture a digital-asset hub, a pivot that’s stirred interest but has yet to win big investment pledges from an industry chastened by a market rout last year.

The rules apply from Thursday and let crypto exchanges offer trading services to individuals and institutions if they secure and comply with licenses designed to shield investors from the risky practices exposed in the 2022 crash.