FAST FIVE: Shares Of Chinese Cross-Border Trading Apps Crash AFter PBOC Claims They Are Engaged In "Illegal Activities" As Beijing has cracked down on crypto, several Chinese fintech firms have tried to capitalize on the demand for off-shore assets in the Chinese market. But on Thursday, senior PBOC official Sun Tianqi wrote in a Chinese finance website called Finance 40 Forum that these cross-border Internet brokers were engaged in “illegal financial activities” because they lacked “driver's licenses” (ie explicit permission from the PBOC). In an analysis earlier this month, the People's Daily said online brokerages operating across borders run the...