Pressure is mounting on digital asset treasuries in the Far East.
According to Bloomberg, Japan Exchange Group (JPX), which runs the Tokyo Stock Exchange, is considering measures to curb the growth of listed companies that accumulate digital tokens as treasury assets.
The exchange is exploring measures such as stricter enforcement of backdoor listing rules and new audits for companies moving into crypto in a bid to protect investors’ interests.
Since September. JPX has already pushed back against three Japanese companies considering scaling as digital asset treasuries, warning of fundraising restrictions if they pursue crypto accumulation as a core strategy.
The operator closely monitors these companies from a governance and shareholder protection perspective, although it does not have specific regulations prohibiting crypto hoarding by listed companies.
JPX’s caution toward digital asset treasuries stems from the volatile swings of these stocks, which have inflicted significant losses on retail investors.
Japan leads Asia with 14 publicly traded bitcoin holding companies, including Tokyo-listed Metaplanet, which has a coin reserve of more than 30,000 BTC. Metaplanet shares have crashed more than 70% from their June peak.
