Core Viewpoint - The article discusses the tightening of account opening policies for cross-border internet brokers targeting mainland Chinese residents, with predictions that the "existing proof" account opening channel may be completely shut down in the future [1][10]. Summary by Sections Account Opening Policy Changes - Several institutions, including Futu Holdings and Interactive Brokers, have canceled the "existing proof" account opening method, now requiring proof of long-term residence or work abroad [1][4]. - The official app of Interactive Brokers has been removed from mainland app stores, indicating a significant increase in account opening thresholds for mainland investors [4][6]. Regulatory Environment - The tightening of regulations on cross-border internet brokers has been ongoing since 2021, with the People's Bank of China stating that these brokers operate illegally within China [9]. - The China Securities Regulatory Commission (CSRC) has been actively working to rectify illegal cross-border operations, emphasizing the need to curb new accounts while allowing existing investors to continue trading [10]. Impact on Investors - Many investors in Hong Kong and U.S. stocks have received tax notifications this year, prompting some to seek brokers in non-CRS countries to avoid tax information exchange [1][3]. - The new requirements for account opening include providing various documents such as utility bills, tax documents, and rental agreements, all dated within the last three months [7].