Summary
- Japan Exchange Group is considering new supervision of listed companies that hold large amounts of cryptocurrency, possibly including new audits.
- Three companies have halted cryptocurrency accumulation after JPX warned of potential fundraising restrictions if crypto reserves took center stage.
- Metaplanet, which now owns 30,823 bitcoin, says it is following all the rules, but analysts see increased scrutiny from regulators on companies with heavy cryptocurrency exposure.
Japan Exchange Group is considering stricter regulatory measures for 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 new audits if they shift their operations to large-scale crypto accumulation, the sources say said. The exchange could also apply a stricter interpretation of existing backdoor listing rules to companies adopting crypto-treasury strategies, according to the report.
The research follows concerns about volatility and losses at digital asset treasuries, sources told Bloomberg.
According to the sources, no formal decisions have been made. Three publicly traded companies recently halted their cryptocurrency buying plans after warnings from JPX that their fundraising capacity could be limited if digital asset accumulation became central to their business operations, the sources said.
Japan Ranks Rules-Based Crypto
The exchange currently has no explicit rules preventing listed companies from amassing crypto reserves.
The regulatory overhaul comes as digital asset sovereign bonds have suffered sharp declines. Metaplanet launched its bitcoin accumulation strategy in April 2024 and now owns 30,823 bitcoin, making it the fourth-largest public bitcoin holder in the world, according to company data.
Metaplanet stated that it has not faced any regulatory action and has complied with all legal and governance procedures.
Market analysts noted that the increased attention from regulators reflects a broader examination of cryptocurrency exposure among publicly traded companies.
