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

Why It Matters

Stricter oversight could limit the rapid expansion of corporate crypto treasuries in Japan, protecting retail investors from price swings and setting a regulatory precedent for other Asian markets.

Summary

Japan Exchange Group (JPX), operator of the Tokyo Stock Exchange, is weighing new measures to curb listed companies that amass digital tokens as treasury assets. The proposals include tighter enforcement of back‑door listing rules and fresh audits of firms shifting toward crypto, after JPX warned three firms since September that fundraising could be restricted if they pursue crypto hoarding. JPX’s move reflects concerns over the volatility of digital‑asset‑backed stocks, highlighted by a 70% plunge in Metaplanet’s shares, which holds over 30,000 BTC. The bourse has no explicit ban but is signaling heightened governance scrutiny.