Enthusiasm for digital asset vaults in the Far East is growing.
According to Bloomberg, Japan Exchange Group (JPX), which operates the Tokyo Stock Exchange, is considering measures to curb the growth of listed companies hoarding digital tokens as safe assets.
The stock exchange is considering measures such as stricter enforcement of backdoor listing rules and new audits of companies leaning toward cryptocurrencies to protect investors’ interests.
Since September. JPX has already pushed back against three Japanese companies planning to evolve into digital asset treasuries, warning that they will be restricted from raising funds if they pursue crypto accumulation as a core strategy.
Although the company does not have any specific regulations prohibiting listed companies from hoarding cryptocurrencies, it closely monitors such companies from a governance and shareholder protection perspective.
JPX’s caution regarding digital asset government bonds stems from the fact that the volatile fluctuations in the boom and bust of these stocks are causing significant losses to individual investors.
Japan leads Asia with 14 listed Bitcoin-holding companies, including Tokyo-listed Metaplanet, which boasts a cache of over 30,000 BTC. Metaplanet’s stock price has plunged more than 70% since its peak in June.
