Congressional panel flags national security risks from Webull trading platform

Summarised from 2 outlets · Updated 7 Oct, 21:24 · Archive

A congressional committee has identified national security concerns over trading platform Webull's ties to China.

A bipartisan congressional committee has identified national security concerns over trading platform Webull, saying the company is not the independent US business it presents itself as. The committee found that Webull markets itself as an American company based in St. Petersburg, Florida, but operates with compliance to Chinese government laws that expose customer data to surveillance risk.

The committee identified what it described as 'a profound gap' between Webull's public marketing and its actual relationship with Beijing. The report raises questions about whether the platform adequately protects the personal information of its American users from Chinese state access.

How it is being reported

• Trading app Webull tanks 18 percent over ‘ties’ to Chinese government, national security concerns: reportIn a new report, a bipartisan committee identified “a profound gap” between Webull marketing itself as “an American company” based in St. Petersburg, Fla., and its actual compliance with Beijing’s laws.New York Post · 7 Oct, 21:16
• Trading platform Webull's China ties create national security risk, congressional panel findsA congressional committee says trading platform Webull is not the ordinary U.S. company it claims, but exposes customer data to Chinese surveillance risk.CNBC · 7 Oct, 12:08

In this story: Webull · China · United States · St. Petersburg

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