Are HKEX Regulations Driving Crypto Firms Abroad?
The recent regulations imposed by the Hong Kong Stock Exchange (HKEX) have caused quite a stir. With stringent rules aimed at companies transitioning to cryptocurrency treasury (DAT) structures, firms are now barred from excessive liquid asset holdings. This means that companies can no longer simply hoard cryptocurrencies like Bitcoin without showing a solid business model to back it up. So, is this an attempt to force companies to be more than just crypto hoarders?
As we know, the HKEX is keen on having all listing applicants operate sustainable businesses. Recently, five companies looking to transition to DAT structures raised eyebrows. The scrutiny has led to questions about whether they can comply with existing rules. Simon Hawkins,…
