In a significant shift for mainland Chinese investors, Futu Securities and Tiger Brokers have updated their account opening policies, now mandating proof of overseas permanent residency. According to the official information, this change, set to take effect on September 22, 2025, is part of China's ongoing efforts to enhance regulatory compliance in the financial sector.
New Policy Restricts Account Eligibility
The new policy will restrict account eligibility, primarily affecting mainland Chinese residents who wish to invest through these platforms. Currently, both brokers are only accepting account applications from individuals holding Hong Kong or Macau identification. This move is seen as a direct response to recent regulatory directives aimed at tightening the financial landscape in China.
Future Plans for Account Acceptance
Looking ahead, Futu Securities and Tiger Brokers have indicated plans to eventually accept mainland Chinese IDs, but only when accompanied by valid overseas residency certificates. While this policy change narrows access for some investors, it does not appear to impact the broader cryptocurrency market at this time, allowing other avenues for investment to remain open.
As the CSRC's regulatory measures unfold, the market is also witnessing significant developments in the Pacific region, where Fiji has enacted a comprehensive ban on digital assets, while Vanuatu and Nauru are working towards establishing more favorable regulatory frameworks. This divergence among Pacific nations could greatly influence investor sentiment and market dynamics, particularly in light of the recent challenges faced by ADA. For further details on these evolving regulatory trends, refer to the full article on the surge in trading volume for Pudgy Penguins here.
