Tokyo exchange operator eyes crackdown on Bitcoin-holding firms after DAT rout
Metaplanet CEO Simon Gerovich says JPX’s concerns target firms with backdoor listings or poor approvals and insisted the critique doesn’t apply to it.
Japan’s largest stock-exchange operator weighs new restrictions on publicly listed companies that pivot their core business into buying and holding crypto, signaling a potential shift in one of the most active markets for digital-asset treasury (DAT) firms.
Citing anonymous sources familiar with internal deliberations, Bloomberg reported that Japan Exchange Group (JPX) is exploring stricter scrutiny for companies that shift their core business into large-scale crypto accumulation. This includes fresh audit requirements and tougher backdoor-listing assessments.
The move comes after a wave of losses hit Japan’s DATs, many of which attracted retail investors earlier this year. Metaplanet, Japan’s largest DAT holding over 30,000 Bitcoin (BTC), saw its shares fall from a year-to-date (YTD) high of $15.35 on May 21 to $2.66 at the time of writing. This marks an 82% drop from its highest value this year.
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