I am writing in response to the article, “Cryptocurrency crime in Hong Kong hits record levels, with one victim losing HK$124 million to fraudsters” ( August 2 ). Adoption of cryptocurrency by Hong Kong as a new avenue of investment isn’t the right way to go. Cryptocurrency is popular because of its resistance to governance and monitoring. The anonymity of users and the convenience of conversion of digital money into cash using cryptocurrency ATMs or online cashable gambling chips add to the traceability problem. This has made it the favourite mode of payment for all illegal actors – be it…