Asia’s biggest stock exchanges push back against companies hoarding crypto
More recently, DATs’ purchases have slowed and their share prices have sagged, coinciding with a sharp sell-off in wider digital asset markets
[TOKYO] Three of Asia Pacific’s biggest stock exchanges are pushing back against crypto hoarding vehicles masquerading as listed companies.
Hong Kong Exchanges & Clearing Limited (HKEX) has challenged the plans of at least five firms seeking to pivot to digital-asset treasury (DAT) strategies as their core business in recent months, citing rules that prohibit large liquid holdings, according to sources familiar with the plans, who asked not to be identified as the applications are confidential. As yet, none of those firms have been given the green light. So-called DATs have met with similar…
