Victory Securities has been reprimanded by the Hong Kong Securities and Futures Commission for regulatory violations, fined 1.7 million yuan, and had its license suspended.

According to the Hong Kong Securities and Futures Commission (SFC), Victory Securities Company Limited has been reprimanded and fined HK$1.7 million for regulatory violations, and its responsible officer's license has been temporarily suspended.

Previously, Hong Kong's Victory Securities officially closed the virtual currency trading function for all users with mainland China identity in February this year, only retaining the withdrawal function, and no longer supporting deposits or new transactions. This is a continuation of the platform's measures to gradually tighten services for mainland users, including previous bans on buying, suspension of new address verification, etc., aiming to comply with the regulatory requirements of the Hong Kong SFC and relevant mainland policies.