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I don’t think this is a good thing.
Exchanges can just connect to anything—connect it to A-shares too—with no access or entry procedures at all. I don’t know which brokerage is “opening a loophole” and getting themselves into trouble. It may not even have anything to do with the brokerage—maybe it’s simply mapping a specific underlying asset price over.
Will this really not invite another round of targeted crackdowns at home?
Is this hand reaching into places it shouldn’t?