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This event is no less significant than the 519 incident in the crypto world. It is the “Implementation Plan for the Comprehensive Regulation of Illegal Cross-Border Securities, Futures, and Fund Business Activities,” jointly issued by the CSRC and eight other departments, and Tiger Futu had already dropped 40% before the market opened.
However, this is also favorable for some on-chain U.S. stock trading platforms. Going forward, domestic investors will only be able to buy U.S. stocks through RWA platforms.