New cryptocurrency rules took effect in Hong Kong on Thursday (Jun 1), allowing exchanges to service retail customers if they secure and comply with licenses aimed at bolstering investor protection. The new regulatory framework came amid tighter scrutiny on major cryptocurrency exchanges after a series of high-profile failures, such as the crash of trading platform FTX. Virtual assets trading platforms wishing to operate in Hong Kong must now adhere to a raft of measures, including ensuring safe custody of assets, avoiding conflicts of interest and complying with cybersecurity standards. Exchanges must also assess ... (full story)