China Broker Crackdown May Push Offshore Investors Toward Crypto Rails
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China’s securities regulator has ordered a two-year mainland wind-down of offshore brokerage accounts at Futu, Tiger Brokers and Longbridge, effective May 22, 2026, allowing mainland users only to sell positions and withdraw funds while banning new deposits and purchases. The move knocked Futu near $123.84 and UP Fintech (Tiger’s parent) near $5.84 and could drive offshore investors toward USDT, OTC crypto channels and other DeFi/crypto rails, increasing crypto adoption even as Beijing tightens cross-border capital controls.
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- China’s regulator is forcing Futu, Tiger Brokers, and Longbridge into a two-year mainland wind-down.
- Mainland users can sell existing positions and withdraw funds, but cannot make new deposits or buy.
- Futu traded near $123.84, while Tiger Brokers’ parent UP Fintech held near $5.84 after the news.
China’s latest action against offshore brokerage platforms could reshape how mainland investors seek foreign-market exposure. Regulators have moved against Futu, Tiger Brokers, and Longbridge, forcing affected mainland accounts into a two-year wind-down that blocks fresh buying and deposits.
This report looks at what the crackdown targets, why some investors may turn toward USDT and OTC crypto channels, and how the move fits into Beijing’s wider effort to keep capital flows inside approved routes.
China Blocks Fresh Offshore Buying
China’s securities regula…
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