Global Exchanges Tighten Rules on Digital Asset Companies

According to PANews, recent reports indicate that Hong Kong Exchanges & Clearing Ltd. has rejected the transformation of at least five companies into digital asset vaults (DATs). This decision is based on the 'cash company' rule, which limits large liquidity holdings. Meanwhile, the Bombay Stock Exchange in India has denied Jetking Infotrain's application for a rights issue listing. In Australia, the ASX has advised companies seeking transformation to pursue the ETF route and restrict cash asset holdings to 50% or more. Japan stands out in the region, as the Japan Exchange Group permits listed companies to disclose Bitcoin acquisitions. However, MSCI has proposed removing DATs with over 50% crypto asset holdings from global indices, potentially affecting companies like Metaplanet. Despite Bitcoin's 18% rise this year, DAT stock prices have generally declined since the summer.