After Futu and Tiger Brokers, another Hong Kong-licensed brokerage is tightening access for mainland users. According to the latest news, Victory Securities will implement a buy restriction for virtual asset accounts identified as having a 'mainland IP' address starting December 19, 2025. In recent years, Hong Kong and overseas brokerages have been increasingly strict with mainland user access: · Futu Securities and Tiger Brokers began gradually closing new mainland accounts in 2022, later requiring proof of overseas work/life, and by 2025, further upgraded to requiring permanent overseas residency proof. Many mainland app channels have already been removed. · Cross-border platforms like Longbridge and Interactive Brokers have also tightened account opening requirements or removed mainland apps. These past few years have felt like 'more and more restrictions': From tightening Hong Kong and U.S. stock channels, to stricter virtual asset regulations, to discouraging Christmas celebrations and New Year’s Eve countdowns. The real demand under the RWA narrative: enabling freer circulation of quality assets! In a heavily regulated environment, RWA (Real World Assets)—which tokenizes high-quality assets like U.S. stocks—has become a necessity. The U.S. SEC and Nasdaq are exploring stock/ETF tokenization, optimizing clearing systems, pursuing longer trading hours, lower costs, and more efficient settlements. At its core, it’s about making assets themselves more flexible. MaiTong MSX is at the forefront of this trend! MSX offers a more convenient way to participate in U.S. stock assets! ｜Trade U.S. stock tokens with MSX and let quality assets flow freely. Experience on-chain U.S. stocks, only on MaiTong MSX! https://(msx.com)/?code=bbji87