⚠️ Major News: The sky has fallen, the CSRC and seven other departments are taking strong measures against foreign brokerages illegally engaging in cross-border stock trading in China!

Key Points:

1) Prepare to confiscate all illegal gains of Tiger, Futu, and Changqiao both domestically and overseas, all profits must be returned, and fines will be imposed.

2) A concentrated rectification period of 2 years. If you have already opened an account, you can only sell, cannot buy, can only transfer money out, and cannot transfer money in!

3) After 2 years, a complete shutdown will occur, prohibiting any trading services to investors within China.

This strong crackdown, could it be that they are afraid this year's three major IPOs will directly drain A-share liquidity?

In any case, folks, it can be expected that RWA assets and on-chain US stocks will rise!

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