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China Penalizes Tiger, Futu and Longbridge Over Mainland Trading

2026-05-24 20:03:04

China's CSRC cracked down on three US stock trading platforms operating in mainland China. The platforms are accused of unauthorized securities trading services, marketing, public fund sales, and futures brokerage. The CSRC and eight other departments issued a joint plan with a two-year cleanup period for existing illegal business. The crackdown could benefit CEXs and on-chain US stock trading.

FUTU-27.71%

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