Why futu does not have license in China?
$Futu Holdings Ltd(FUTU.US$ did Futu apply but not granted license or Futu did not apply? Did china government invite Futu to apply for license or it is happy with the number of licenses issued and wish to offer protection to these state owned banks and financial institutions because it fear they cannot compete against Futu? So after receiving licensing fees, it wishes to stop clients from using non license brokerage? Or is it because Futu and Tiger are listed in US and so China government does not want overseas investors to benefit from Chinese wealth accumulation? or there isnt a CCP committee is these companies to control them and benefit from their growth and affect the interests of CCP officials vested with brokerages with licenses?
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Nova w123 : why futu tanked so bad for just a regulation. what do people expected.? a trading brokerage with no rule? anywhere no matter what country, we need rules. better than FTX scam.
102313005 : Self-question and answer boring
cutedog Nova w123: FUTU is totally different from FTX. FTX were running by a group of mfs.
迎接虎年 : The volume sellers in China are all state-owned enterprises and state-owned enterprises. How could scented cake be distributed to private enterprises? Don't even think about it
paladinsirOP 迎接虎年: east money is also not state owned. the difference is it is listed in China and primary focus on Chinese and Hk listed companies and not US ones. So did China ask brokerage to choose listing place to determine whether it will be issued license?