The Chinese government has announced heavy sanctions against major US stock trading platforms operating in China, alongside seizing all illegal profits. This could potentially benefit centralized exchanges (CEX) and on-chain US stock trading.
The China Securities Regulatory Commission (CSRC) has cracked down on illegal cross-border activities conducted by Tiger Brokers (New Zealand), Futu Securities (Hong Kong), and Longbridge Securities (Hong Kong). These three platforms have been accused of providing securities trading services without a license, marketing, selling public funds, and acting as futures intermediaries in mainland China. The CSRC, along with eight other departments, has issued a joint plan to prohibit foreign companies from offering account opening, trading, and fund transfer services, with a two-year cleanup period for existing illegal businesses.
#SkyBridgeCryptoFundLosses
#BTCDemandLowestSinceJanuary
#ARMAStrategicBitcoinReserve
$BTC
The China Securities Regulatory Commission (CSRC) has cracked down on illegal cross-border activities conducted by Tiger Brokers (New Zealand), Futu Securities (Hong Kong), and Longbridge Securities (Hong Kong). These three platforms have been accused of providing securities trading services without a license, marketing, selling public funds, and acting as futures intermediaries in mainland China. The CSRC, along with eight other departments, has issued a joint plan to prohibit foreign companies from offering account opening, trading, and fund transfer services, with a two-year cleanup period for existing illegal businesses.
#SkyBridgeCryptoFundLosses
#BTCDemandLowestSinceJanuary
#ARMAStrategicBitcoinReserve
$BTC