Japan’s main stock exchange operator is reviewing how it handles companies that shift their business toward holding Bitcoin
A Bloomberg report stated that Japan Exchange Group (JPX) is studying whether listed companies that begin focusing on buying and keeping crypto assets should face closer checks.
The ideas under discussion include extra audit steps and the possible use of rules that normally apply to backdoor listings.
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A backdoor listing happens when a private company takes over an already listed firm to enter the market without going through a standard initial public offering. JPX already blocks this practice.
Metaplanet’s CEO, Simon Gerovich, stated in a post on X that the exchange operator’s concern is with companies that may have changed direction without shareholder approval or used listed firms as shortcuts.
Gerovich explained that Metaplanet updated its articles of incorporation and increased its authorized shares to support its Bitcoin purchases. He said these steps followed standard governance rules and were carried out by the same leadership team that ran the company before it shifted its strategy.
After the Bloomberg report, Metaplanet also released an official statement. The company said it has not received any questions or notices from regulators.
It added that it is ready to take part in “constructive dialogue” with authorities as they discuss how to shape rules for companies that hold digital assets.
Recently, the Bank of England warned that weaker stablecoin rules could harm financial stability and reduce lending across the UK. How? Read the full story.
