Summary
- Japan Exchange Group is considering new oversight for listed companies that hold large amounts of cryptocurrency, possibly including fresh audits.
- Three companies paused crypto accumulation after JPX warned about potential fundraising restrictions if crypto reserves became central.
- Metaplanet, now holding 30,823 bitcoin, says it follows all rules, but analysts see increased regulatory scrutiny of firms with major crypto exposure.
Japan Exchange Group is considering stricter oversight measures for publicly listed companies that accumulate large cryptocurrency holdings, according to a Bloomberg report citing sources familiar with the matter.
The Tokyo Stock Exchange operator is reviewing measures that could include requiring companies to undergo fresh audits if they shift operations toward large-scale crypto accumulation, the sources said. The exchange may also apply a stricter interpretation of existing backdoor-listing rules to firms adopting crypto treasury strategies, according to the report.
The review follows concerns about volatility and losses in digital asset treasury firms, sources told Bloomberg.
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No formal decisions have been made, according to the sources. Three listed companies recently paused crypto-buying plans after warnings from JPX that their fundraising capacity could be restricted if digital asset accumulation became central to their business operations, the sources said.
Japan ranks rules based crypto order
The exchange currently has no explicit rules preventing listed firms from amassing crypto reserves.
The regulatory review comes as digital asset treasury stocks have experienced sharp declines. Metaplanet launched its bitcoin accumulation strategy in April 2024 and now holds 30,823 bitcoin, ranking as the world’s fourth-largest public corporate bitcoin holder, according to company data.
Metaplanet stated it has not faced regulatory actions and has adhered to all legal and governance procedures.
Market analysts noted the increased regulatory attention reflects broader scrutiny of cryptocurrency exposure in publicly traded companies.
Read more: Metaplanet announces third-quarter financial report, posts net profit of 12.7 billion yen
