China Targets Unauthorized US Stock Trading Platforms

China's Securities Regulatory Commission (CSRC) has taken action against three US stock trading platforms operating within mainland China. According to NS3.AI, these platforms are accused of providing unauthorized securities trading services, engaging in marketing activities, selling public funds, and offering futures brokerage without proper authorization. In response, the CSRC, along with eight other government departments, has announced a joint plan to address these illegal activities over a two-year cleanup period. This crackdown may potentially benefit centralized exchanges (CEXs) and on-chain US stock trading platforms.