Crypto
China online brokerage crackdown puts USDT in focus as backdoor route for overseas stocks re-emerges
China\'s securities regulator has begun sanction procedures against online brokerages including Tiger Brokers, Futu and Longbridge for offering services to mainland clients without approval, and ordered a wind-down over 2 years. Existing users can only sell assets and withdraw funds during the period, while new deposits and buy orders have been halted. The move has renewed attention on USDT as a potential route for shifting funds, though regulators have also expanded oversight of stablecoins.
