It’s not even halfway through 2026, but we’re already seeing many actions in offshore asset management:

January CRS 2.0 takes effect in the Cayman Islands and BVI, with crypto assets also entering personal tax information collection
February The central bank issued a notice banning offshore entities from issuing offshore RMB stablecoins without approval, strictly controlling RWA tokenization
March Hong Kong’s “Draft Amendments to the 2026 Tax (Revised) (Automatic Exchange of Information) Ordinance,” requiring reporting of related transactions for crypto assets
April Hong Kong finally approved only two stablecoin licenses: HSBC and Anchorpoint
May The CSRC confiscated all illegal gains from Tiger, Futu, and Changqiao, establishing a two-year concentrated rectification period
June 3rd Xiaohongshu issued a notice on financial special governance, canceling 31k financial influencers in one month, especially those promoting US stock speculation and similar content
In fact, institutions like Futu have likely been aware of this pressure for a long time, and since last year, it’s evident that they 1) fully go overseas, with many partnered influencers and agencies receiving overseas marketing consultations; 2) heavily advertise, especially in North America and Canada, where YouTube with Chinese language settings frequently displays their ads; 3) localize deeply, with events and sponsorships of local tech teams organized in New York and Toronto, showing close ties with local teams and organizations.