Tianfeng Securities is under investigation by the China Securities Regulatory Commission (CSRC), and its subsidiary has already obtained approval in Hong Kong to provide virtual asset trading services.

On November 29, according to Caixin.com, Tianfeng Securities announced that the China Securities Regulatory Commission (CSRC) had issued a "Notice of Case Filing" to investigate the company for suspected violations of information disclosure regulations and illegal financing, in accordance with the Securities Law, the Administrative Penalty Law, and other laws and regulations. A non-bank analyst believes that if Tianfeng Securities is ultimately subject to administrative penalties, it will negatively impact the company's business operations and financing, and its liquidity may face strain. Tianfeng Securities previously disclosed that its wholly-owned subsidiary, Tianfeng International Securities & Futures Limited, had obtained approval from the Hong Kong Securities and Futures Commission (SFC) to acquire a Type 3 license related to virtual assets, enabling it to provide virtual asset trading services through integrated account arrangements.