China’s Offshore Trading Crackdown Could Unleash a New Wave of Crypto Capital Flight
BeInCrypto
China's crackdown on major offshore brokers may drive restricted mainland investors toward crypto, particularly USDT, for capital flight.Summary
China's securities regulator is shutting down mainland operations for online brokers Tiger Brokers, Futu Holdings, and Longbridge, citing unauthorized trading services. As these platforms provided easy access to global markets for Chinese investors, the upcoming two-year wind-down leaves many seeking alternative ways to move capital offshore. Analysts suggest that this trapped capital could flow into crypto assets, specifically Tether (USDT) via over-the-counter desks, despite Beijing's ongoing efforts to enforce a strict crypto ban and expand regulations against stablecoins.
(Source：BeInCrypto)