Futu and Up Fintech shares crater as China launches sweeping crackdown on cross-border trading
Futu and Up Fintech shares experienced significant declines following a crackdown by China's securities regulators on offshore trading. The China Securities Regulatory Commission imposed hefty fines and restricted mainland clients from opening new positions. This regulatory action is expected to have a long-term impact on the business models of these companies, which heavily relied on mainland Chinese clients.
- ▪Futu and Up Fintech shares dropped between 30% and over 40% in a single trading session.
- ▪The China Securities Regulatory Commission imposed fines totaling approximately RMB 1.85 billion on Futu and RMB 308.1 million on Up Fintech.
- ▪Mainland clients are now restricted to a two-year liquidation-only period, preventing them from opening new accounts.
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Futu and Up Fintech shares crater as China launches sweeping crackdown on cross-border trading The CSRC slapped massive fines on offshore brokers and barred mainland clients from opening new positions, sending both stocks down 30-40% in a single session. Share Add us on Google by Editorial Team May. 26, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); China just reminded everyone who’s really in charge of its capital markets.
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