According to Bloomberg, Japan Exchange Group (JPX) is considering tightening regulations to restrict the continued expansion of "coin-hoarding" listed companies (DAT) due to the huge losses suffered by retail investors caused by the crypto-hoarding craze.

Sources say JPX is assessing stricter application of reverse takeover rules, requiring relevant companies to be re-audited, and has suspended the plans of 3 companies planning to purchase coins, warning that their financing capabilities will be limited if they insist on purchasing coins as their main strategy.

Japan currently has 14 listed Bitcoin buyer companies, the most in Asia, and the largest DAT - Metaplanet's stock price has plummeted more than 75% from its June peak.

[Bloomberg]

Digital asset treasury companies in Japan are at risk as the Japan Exchange Group Inc., which operates the Tokyo Stock Exchange, wants to tighten oversight over concerns that retail investors are being exposed to excessive risk from volatile crypto-linked stocks.

People familiar with the development told Bloomberg that the group may ask listed firms that stockpile crypto to undergo fresh audits and implement a stricter disclosure regime; however, those plans remain tentative and under internal discussion at the moment. The group is also mulling ways to curb backdoor listings, a method that involves a private company becoming publicly traded by merging with or acquiring an already listed firm.

Currently, this approach is already restricted under existing rules, but the exchange is now considering whether it should be applied to listed companies that have taken up a crypto-focused treasury strategy. Japan is home to several digital asset treasury firms like Metaplanet Inc., which is the largest public Bitcoin holder in the country, alongside a number of other firms that have adopted similar strategies as demand for crypto exposure continues to grow among investors.

However, over the past months, many of these digital asset treasury firms, including Strategy, the largest corporate Bitcoin holder, have seen their share prices tumble as market enthusiasm faded. Metaplanet, for instance, has dropped more than 70% from its June peak, even though it had surged over 400% earlier in the year on the back of aggressive Bitcoin purchases. Similarly, Convano Inc., a nail salon chain that announced plans to acquire tens of thousands of Bitcoin, has seen its stock fall by around 60% since late August.

So far, no formal decision has been announced, but some entities have been warned by the exchange that they risk fundraising restrictions if they pursue crypto accumulation as a core business strategy. As a result, at least three companies have put their plans on hold but have not publicly disclosed the reason, the sources added. According to a Japan Exchange Group insider, their goal is to safeguard investors and ensure listed firms remain grounded in their stated business activities. The operator is currently only “monitoring companies that raise concerns from a risk and governance perspective,” they said.

Crypto hoarding firms have faced similar hiccups across some other jurisdictions in Asia. Last month, the Hong Kong Exchanges & Clearing Limited reportedly blocked at least five companies that were looking to pivot their core operations toward holding digital assets as treasury reserves. Similar actions were taken in India, where the Bombay Stock Exchange rejected Jetking Infotrain’s proposal to invest proceeds from a preferential share issue into cryptocurrencies.

[Bloomberg]

MAG7.SSI

Japan Exchange Group weighs tighter oversight of crypto treasury firms

Japan Exchange Group (JPX), the largest stock exchange operator in Japan, is considering stricter scrutiny of publicly listed companies that shift their core business to large-scale cryptocurrency holdings, including new audit requirements and stricter reverse merger evaluations. This move stems from the recent wave of losses at Japanese Digital Asset Treasury (DAT) companies.

For example, Metaplanet, which holds over 30,000 Bitcoin, has seen its stock price plummet 82% from a high of $15.35 in May of this year to its current price of $2.66. Another DAT company, Convano, has also seen its stock price fall 61% from a high of $2.05 in August to $0.79. JPX's move may close regulatory loopholes and restrict companies from circumventing traditional listing requirements by reverse mergers or transforming into cryptocurrency holding companies.

[Odaily Planet Daily]

Tokyo Stock Exchange Plans to Strengthen Regulations on Companies Holding Bitcoin

On November 13 (UTC+8), Japan Exchange Group (JPX), the largest stock exchange operator in Japan, is considering stricter scrutiny of listed companies that shift their core business to large-scale cryptocurrency holdings, including new audit requirements and stricter reverse takeover assessments.

This move stems from the recent wave of losses at Japanese Digital Asset Treasury (DAT) companies. Taking Metaplanet, which holds over 30,000 Bitcoins, as an example, its stock price has plummeted 82% from a high of $15.35 in May of this year to its current price of $2.66. Another DAT company, Convano, has also seen its stock price fall 61% from a high of $2.05 in August to $0.79.

This move by JPX may close regulatory loopholes, restricting companies from circumventing traditional listing requirements by reverse takeovers or transforming into cryptocurrency holding companies.

[MarsBit]

Japan Exchange Group (JPX) is considering tightening regulations to limit the continued expansion of "coin-hoarding" listed companies (DAT) because the crypto-hoarding craze has triggered huge losses for retail investors. Sources say JPX is assessing stricter application of backdoor listing rules, requiring relevant companies to be re-audited, and has suspended the plans of 3 companies planning to purchase coins, warning that their financing capabilities will be limited if they insist on purchasing coins as their main strategy.

Japan currently has 14 listed Bitcoin buyer companies, the most in Asia, and the largest DAT - Metaplanet's stock price has plummeted more than 75% since its June peak.

[Bloomberg]

Japan Exchange Group (JPX) is considering restricting the expansion of "HODL-type" listed companies (DAT).

On November 13, amid growing concerns about losses caused by the cryptocurrency hoarding craze, Japan Exchange Group (JPX) is considering measures to limit the growth of listed digital asset fund management companies.

Options under consideration include tightening regulations on backdoor listings and requiring companies to conduct new audits, according to people familiar with the matter. They requested anonymity because the plans are not yet public. They added that no formal course of action has been determined at this time.

Since September, three listed Japanese companies have suspended plans to purchase cryptocurrencies due to obstruction from the Japan Exchange, said one person familiar with the matter; these companies were told that their financing capabilities would be limited if they made purchasing cryptocurrencies a business strategy. [Golden Ten Data]

[BlockBeats]

Japanese exchanges are studying how to curb listed companies from hoarding cryptocurrencies.

News, November 13th, as people's concerns grow over the losses caused by the cryptocurrency hoarding frenzy, the Japan Exchange Group (JPX) is considering taking measures to restrict the growth of listed digital asset management companies.

Insiders revealed that options under consideration include tightening backdoor listing regulations and requiring companies to undergo new audits. As the plans have not been made public yet, they requested anonymity. They added that no formal course of action has been decided upon at the moment.

One insider said that since September, three listed Japanese companies have suspended their plans to purchase cryptocurrency due to opposition from the Japan Exchange; these companies were informed that their financing abilities would be restricted if they were to purchase cryptocurrency as a business strategy. (FX678)

[BlockBeats]

Japanese Exchange is Studying How to Prevent Listed Companies from Hoarding Cryptocurrency

On November 13, amid growing concerns about losses caused by the cryptocurrency hoarding craze, the Japan Exchange Group (JPX) is considering measures to limit the growth of listed digital asset fund management companies.

Options under consideration include tightening regulations on backdoor listings and requiring companies to conduct new audits, according to people familiar with the matter. They requested anonymity because the plans are not yet public. They added that no formal course of action has been determined at this time.

Since September, three listed Japanese companies have suspended plans to purchase cryptocurrencies due to obstruction from the Japan Exchange, said one person familiar with the matter; these companies were told that their financing capabilities would be limited if they made purchasing cryptocurrencies a business strategy.

[BlockBeats]

On November 13 (UTC+8), as concerns grow about losses from a cryptocurrency hoarding frenzy, Japan Exchange Group (JPX) is considering measures to limit the growth of listed digital asset fund management companies.

People familiar with the matter revealed that the options being considered include tightening regulations on backdoor listings and requiring companies to conduct new audits. They requested anonymity because the plan has not been made public. They added that no formal course of action has been determined at this time.

One person familiar with the matter said that since September, three listed Japanese companies have suspended plans to purchase cryptocurrencies due to obstruction from the Japan Exchange; these companies were told that their financing capabilities would be limited if they made purchasing cryptocurrencies a business strategy. [Golden Ten Data]

[BlockBeats]

On November 13, according to Jinshi Data, the Japan Exchange is reportedly studying how to curb listed companies from hoarding cryptocurrencies.

[Deep Tide TechFlow]

According to Bloomberg, Japanese exchanges are exploring how to curb companies from hoarding cryptocurrencies. They are currently exploring various options, including stricter application of reverse takeover rules and requiring companies to undergo new audits.

[Foresight News]

Japanese exchanges are studying how to curb companies from hoarding cryptocurrencies.

Japan Exchange Group Inc. is mulling measures to limit the growth of listed digital-asset treasury companies, as concerns deepen over losses connected to the crypto hoarding frenzy.

The Tokyo Stock Exchange operator is exploring options including a stricter application of its backdoor listing rules and requiring firms to undergo a fresh audit, according to people familiar with the matter, who asked not to be named as the plans are private.

No official course of action has been determined at this point, they added.

Japan Exchange Looks at Ways to Curb Crypto Hoarding Firms


On November 13, the crypto financing platform Shodai Network announced the completion of a $2.50M seed round of financing, with investors including Consensys, Consensys Mesh, and Ethereum co-founder Joseph Lubin. This investment will help Shodai Network expand its founder network and further develop its financing support platform.

Shodai Network brings together a group of entrepreneurs, developers, and crypto industry veterans, and will help early-stage developers obtain resources, connect with other entrepreneurs, and systematically scale their projects through its founder network. Through its product division, Shodai focuses on the research and development of new financing technologies and the development of open-source capital raising tools, aiming to align the incentive interests of protocol developers and investors from the early stages of protocol construction.

[BlockBeats]

Crypto financing platform Shodai Network completes a $2.50M seed round, with participation from Consensys and others.

Cryptocurrency funding platform Shodai Network announced the completion of a $2.5 million seed round financing, with investors including Consensys, Consensys Mesh, and Ethereum co-founder Joseph Lubin. This investment will help Shodai Network expand its founder network and further develop its funding support platform.

Shodai Network has brought together a group of entrepreneurs, developers, and industry veterans in the crypto space to empower early-stage developers to access resources, connect with other entrepreneurs, and strategically scale their projects. Through its product division, Shodai focuses on the research and development of new funding technologies and the creation of open-source capital-raising tools, aiming to align protocol developers and investors' incentives in the early stages of protocol development.

[BlockBeats]

Cryptocurrency Financing Platform Shodai Network Completes $2.5M Seed Round, with Participation from ConsenSys

The heat is rising on digital asset treasuries in the Far East. Japan Exchange Group (JPX), which operates the Tokyo Stock Exchange, is considering measures to curb the growth of listed companies that hoard digital tokens as treasury assets.

The bourse is exploring actions such as stricter enforcement of backdoor listing rules and fresh audits for firms tilting to crypto in a bid to protect investor interest. Since September, JPX has already pushed back against three Japanese companies planning to evolve as digital asset treasuries, warning of fundraising restrictions if they pursue crypto accumulation as a core strategy.

The operator is closely monitoring such firms from a governance and shareholder protection perspective, even though it doesn't have specific regulations banning crypto hoarding by listed firms. JPX's caution toward digital asset treasuries stems from the volatile boom-and-bust swings in these stocks, which have inflicted significant losses on retail investors.

Japan leads Asia with 14 publicly listed bitcoin-holding companies, including the Tokyo-listed Metaplanet, which boasts a coin stash of over 30,000 BTC. Shares in Metaplanet have crashed over 70% from their June peak.

[Bloomberg]

Tokyo Exchange Operator Mulls Limits on Digital Asset Treasury Firms: Report


Japan Exchange Group (JPX) is considering steps to tighten oversight of publicly traded companies that accumulate substantial cryptocurrency holdings amid mounting concerns over the volatility and losses associated with digital asset treasury (DAT) companies.

The Tokyo Stock Exchange operator is exploring measures, including a stricter interpretation of existing backdoor-listing rules and potentially requiring companies to undergo fresh audits if they pivot into large-scale crypto accumulation, Bloomberg reported Thursday, citing sources familiar with the matter.

A backdoor listing lets a private company go public through a merger or acquisition rather than a traditional IPO. JPX already prohibits such practice and is considering extending the restriction to listed companies that pivot their core business toward crypto treasury strategies.

While no decisions have been finalized, three listed companies have recently paused plans to begin buying crypto following pushback from JPX, the report said. Those firms were warned that their fundraising capacity could be limited if they pursued crypto acquisitions as a core business model.

JPX currently has no explicit rules preventing listed firms from amassing crypto reserves. The Block has reached out to JPX for comment.

The increased scrutiny comes following sharp declines in DAT stocks. Shares of Tokyo-listed Metaplanet have fallen more than 79% from their June peak. The stock closed down 6.6% at 397 Japanese yen ($2.60) on Thursday, a steep drop from 1,895 yen on June 16.

Metaplanet, which launched its bitcoin accumulation strategy in April 2024, currently holds 30,823 BTC, making it the world's fourth-largest public corporate holder of bitcoin, according to BitcoinTreasuries data.

In response to the media report, Metaplanet said Thursday that it has not been subject to regulatory actions or investigations related to its business operations.

"With shareholder approval at both extraordinary and annual general meetings, we have adhered to all procedures deemed necessary under applicable laws and regulations, maintaining corporate governance as our highest priority," the company wrote.

Other Japanese DAT stocks also fell on Thursday. Shares of Convano Inc. closed down 11.5% today, while Bitcoin Japan Corporation dropped 16.2%.

[Bloomberg]

Japan Exchange Group weighs tighter oversight of listed crypto treasury firms: report

据彭博社，日本交易所集团（JPX）正考虑收紧监管，以限制“囤币型”上市公司（DAT）继续扩张，原因是加密囤币热潮引发散户巨额亏损。

消息人士称，JPX 正评估更严格适用借壳上市规则、要求相关公司重新审计，并已让 3 家拟购币上市公司暂停计划，警告若坚持将购币作为主营策略，其融资能力将受限。

日本目前有 14 家比特币买家上市公司，为亚洲最多，最大 DAT——Metaplanet 股价自 6 月峰值暴跌超 75%。

[彭博社]

日本交易所正研究如何遏制上市公司囤积加密货币


據彭博社，日本交易所集團（JPX）正考慮收緊監管，以限制“囤幣型”上市公司（DAT）繼續擴張，原因是加密囤幣熱潮引發散戶鉅額虧損。

訊息人士稱，JPX 正評估更嚴格適用借殼上市規則、要求相關公司重新審計，並已讓 3 家擬購幣上市公司暫停計劃，警告若堅持將購幣作為主營策略，其融資能力將受限。

日本目前有 14 家比特幣買家上市公司，為亞洲最多，最大 DAT——Metaplanet 股價自 6 月峰值暴跌超 75%。

[彭博社]