Futu Crashes 28% After China Proposes $271 Million Penalty - Futu Holdings (NASDAQ:FUTU)

Moomoo Parent Futu’s Nasdaq Shares Plunge Nearly 28% On China Probe

Futu Holdings dropped 28% on Nasdaq after China's CSRC proposed $271M in fines for unlicensed securities and fund business in mainland China. For fintechs expanding in Asia, it confirms local licensing must precede GTM — regulatory arbitrage is closing.