Corporate Crypto Holdings Hit a Wall as Asia Exchanges Reject DAT Models

Leading Asia-Pacific stock exchanges, including Hong Kong Exchanges & Clearing (HKEX) and India's Bombay Stock Exchange, are actively blocking companies from listing or operating as Digital Asset Treasury (DAT) vehicles that hold significant cryptocurrency reserves. HKEX cited rules against excessive liquid assets, while the ASX in Australia caps non-cash holdings at 50%. Japan remains an exception, hosting several listed Bitcoin buyers like Metaplanet. This resistance coincides with global scrutiny, as MSCI Inc. considers excluding firms with over 50% crypto assets. The DAT sector, which holds over $100 billion in major cryptocurrencies, is also facing increased risk concerns due to market volatility, reliance on share issuance for funding, and manipulation risks, prompting calls for stricter audits.

(Source：BeInCrypto)