What happened Shares of UP Fintech (NASDAQ: TIGR) sank this week following indications that the company will soon face setbacks due to new regulations. The Chinese fintech stock closed out the week's trading down roughly 27%. TIGR data by YCharts China's state-backed media outlet The People's Daily published a report on Oct. 14 indicating that UP Fintech may face hurdles when the government implements new privacy standards in the beginning of November. China has been cracking down on technology companies that are listed on U.S.-based exchanges, with the stated reason being that it views the availability of user data as a potential national security risk. Image source: Getty Images. So what It's been a challenging year for investors in the Chinese technology sector. Even companies that have posted strong sales and earnings growth have seen their valuations pressured amid government initiatives to exert greater influence over the country's tech industry and reduce potential influence from foreign investors. UP Fintech has been growing sales rapidly, but regulatory shifts have cast a cloud of uncertainty over what was previously a promising business outlook. Now what UP Fintech's Tiger Brokers trading platform has been adding new users at an impressive clip, with the company reporting that it added 153,000 new funded accounts last quarter. The strong user growth helped the business grow revenue roughly 99% year over year in the period. UP Fintech now has a market capitalization of roughly $1.2 billion and looks attractively valued in the limited context of recent momentum for the Tiger Brokers platform. However, it's difficult to chart the company's trajectory in light of the unfavorable regulatory climate; and the potential for disruptive applications of impending new financial standards means the stock looks risky even after recent pullbacks. 10 stocks we like better than UP Fintech HoldingWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and UP Fintech Holding wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source