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Alongside 14 Chinese and Hong Kong officials, Lam has been slapped with punitive measures that effectively cut her off from the banking system.

According to one report, it is this risk of running afoul of US policies that stops even mainland Chinese banks from extending services to the Hong Kong chief.

With cryptocurrencies, Lam who says she was “unjustifiably sanctioned by the US government” or Bernard Chan, one of the Hong Kong chief’s advisers who has reportedly been labelled a “politically exposed person”, can access an alternative financial system that cannot be censored.

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