Japan Exchange Group Considers Strengthening Regulation of Listed Firms 'Holding Coins'…Targets Include MetaPlanet
Summary
- Japan Exchange Group (JPX) said it is considering strengthening regulations on listed companies that make virtual assets a core strategy.
- JPX said it is discussing measures to strengthen supervision of 'coin-hoarding' companies' backdoor listings and to require re-audits.
- JPX warned it could restrict these companies' financing, and noted that, notably, MetaPlanet's stock price has fallen by more than 75% from its peak.
Japan Exchange Group (JPX) is considering strengthening regulations on listed companies (DAT·Digital Asset-heavy Traders) that make holding virtual assets (cryptocurrencies) a primary strategy, after a rise in cases of individual investors suffering sharp losses.
According to Bloomberg on the 13th (local time), JPX is discussing measures to strengthen supervision of so-called 'coin-hoarding' companies regarding backdoor listings and to require accounting re-audits.
JPX has already asked three DAT firms planning new listings to temporarily suspend their listing procedures, and it has reportedly warned that it may restrict financing if holding virtual assets is maintained as a core business strategy.
Currently, there are a total of 14 listed companies in Japan that hold bitcoin as a major asset, the most among Asian countries. Among them, the largest, MetaPlanet, has seen its stock price fall by more than 75% from its June peak.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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