Asia’s biggest stock exchanges push back against companies hoarding crypto
TOKYO – Three of Asia Pacific’s biggest stock exchanges are pushing back against crypto hoarding vehicles masquerading as listed companies.
DAT stands for Digital Asset Treasury, which refers to publicly traded companies that hold a significant amount of digital assets like Bitcoin as a core part of their business strategy. These companies allow investors to gain indirect exposure to digital assets by buying shares, bypassing the need for self-custody and managing wallets.
Hong Kong Exchanges & Clearing (HKEX) has challenged the plans of at least five firms seeking to pivot to DAT as their core business in recent months, citing rules that prohibit large liquid holdings, according to people familiar with the plans. As yet, none of…
