Chinese banking official issues a warning to cross-border online brokerages operating with only overseas licenses, causing Futu, UP Fintech, and others to drop (Reuters)

Reuters:
Chinese banking official issues a warning to cross-border online brokerages operating with only overseas licenses, causing Futu, UP Fintech, and others to drop  —  Online brokerages not licensed in China are conducting illegal businesses if they serve Chinese clients via the internet …