The post Crypto access tightens as Victory Securities blocks CN IPs appeared on BitcoinEthereumNews.com.

What changed: Victory Securities suspends crypto trading for Mainland China IP-flagged users hong kong-based victory securities has suspended cryptocurrency trading functionality for users linked to Mainland China. The restriction targets accounts flagged by Mainland China IP addresses and users identified with mainland Chinese identities. The controls rely on geolocation signals to determine access and can include Hong Kong clients who log in via a Mainland China IP. The suspension is framed around virtual asset trading functions, with further operational specifics set out on a defined timeline. Why it matters: SFC virtual asset licensing and user restrictions Under Hong Kong’s Securities and Futures Commission (SFC) virtual asset trading platform regime, licensed operators are expected not to serve mainland Chinese users, a stance many firms operationalize through IP-based geoblocking, as reported by South China Morning post. The objective is investor protection and regulatory perimeter clarity, though implementation approaches vary by platform. Industry views are mixed on how far these guardrails should go. “The licensing regime is overly harsh,” said Duncan Chiu, a Legislative Council Member, reflecting concerns that stringent user restrictions may weigh on market development. According to MEXC News, Victory Securities introduced a no-buy restriction on December 19 for virtual asset accounts detected with Mainland China IPs, a scope that includes Hong Kong users accessing via such IP addresses. This means impacted accounts can no longer initiate new crypto purchases from that date. As reported by SuperEx News, effective January 2, new wallet address verifications and deposits are halted for those accounts, while withdrawals and existing holdings remain available. Operationally, this preserves exit and custody continuity even as inbound flows and new wallet onboarding pause. Comparison with HashKey and Hong Kong VATP user restrictions Geoblocking by IP versus KYC-residency screening Geoblocking by IP is a real-time, session-level control that restricts access…

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Filed under: News - @ February 10, 2026 4:15 am