A lion at a zoo in Shandong frantically tries to cuddle with a tiger.
小红书公布金融领域专项治理最新三项进展:针对近期“因某虎、某途被查抓紧港美股开通分享贴”相关违规行为线索,定位并处置非法诱导跨境投资、炒股等金融领域违规内容等相关违规笔记539条,评论146条;同时,已下线“tiger开户&攻略“等搜索及联想词26组,相关话题3个,提供搜索合规保障。
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China is seeing massive capital outflows:
An estimated $1 trillion in capital flowed out of China in 2025, the largest annual outflow since records began in 2006.
Capital outflows have more than DOUBLED since 2021.
This comes as Chinese investors have moved funds into overseas equities through offshore brokers, particularly into the US and Hong Kong markets.
In response, China imposed restrictions on cross-border stock trading on May 22nd, ordering all illegal accounts to be liquidated within 2 years.
Furthermore, the country fined three offshore online brokers, Hong Kong-based Futu, Singapore-based Tiger Brokers and Longbridge Securities, a combined $330 million for offering Chinese investors access to foreign stock markets without regulatory approval.
China is tightening capital controls as outflows intensify.
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科技圈正在酝酿史上最大IPO潮要来了,
SpaceX估值1.75万亿,
OpenAI估值8520亿,
Anthropic估值9000亿,
三家都要IPO了。
Polymarket上SpaceX首日收盘超2万亿,概率60%,
各所Pre-IPO的SpaceX估值也差不多在2.4万亿左右。
怎么感觉有点提前Price in了?
这时候中国清退Tiger,富途看来是用心良苦,
防止各位被割韭菜啊~!~🫣
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定格罚没 2992 亿人民币!可以说是第二个 Manus 了,还是那句话钱可以赚但是不能影响国家战略,目前国家战略很明显的好资产上港股、A股不能去美股
因为按照证券法,违法所得 ×(2 到 11 倍)(没收算1倍,罚款1~10倍)。所以定格处罚大概 2992 亿人民币,但是如果一倍大概 544 亿人民币
为什么说不会顶格处罚?🧐
一、理论上限 ≠ 能落地(警示作用)
富途市值约150–200亿美元(¥1100–1450亿)。10倍情景的¥2310亿直接超过市值——账面上是”判死刑”,现实中根本无从执行。
老虎同理,¥220亿(3倍)已超其市值。所以10倍、甚至3倍毛收入口径只是法条天花板,不是现实结果
二、境外主体执行难(逼急了跑路了)
被罚的核心是 Tiger(NZ)、富途(香港)、长桥(香港)——境外注册实体
证监会能开账面罚单、没收境内主体资产,但对境外实体的钱,实际收缴能力有限。“开出的罚单”和”收到的钱”会是两个数
所以最终大概在 200 亿左右
三、后续影响如何?利好的是币圈美股
1️⃣ Manus 只是开始,而且是国家战略不容置疑
2️⃣ 币圈的美股交易平台的天降福贵
3️⃣ 币安、OKX 这些交易所不知道是好消息还是坏消息,但是对 Hype 一定是好消息
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The Chinese government has announced severe penalties against major US stock trading platforms operating within China, confiscating all illegal gains. This could benefit centralized exchanges (CEXs) and on-chain US stock trading.
China's Securities and Exchange Commission (CSRC) has cracked down on illegal cross-border activities by Tiger Brokers (NZ), Futu Securities (HK), and Longbridge Securities (HK). The three platforms are accused of unauthorized securities trading services, marketing, public fund sales, and futures brokerage in mainland China. The CSRC and eight other departments have issued a joint plan to ban overseas firms from offering account opening, trading, and fund transfer services, with a two-year cleanup period for existing illegal business.
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中国证监会拟对老虎、富途、长桥依法严厉处罚
中国证监会5月22日宣布,Tiger Brokers(NZ)Limited、富途证券国际(香港)有限公司、长桥证券(香港)有限公司的非法跨境展业行为,违反了我国证券基金期货法律法规,破坏了市场秩序,必须坚决予以打击。依据相关规定,证监会拟决定没收老虎、富途、长桥境内外相关主体全部违法所得,并依法严厉处罚。
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