Asia’s stock exchanges are pushing back against crypto treasuries: Report
Top exchanges in Hong Kong, India and Australia are rejecting companies seeking to become crypto hoarders, citing shell company concerns.
Stock exchanges in India, Hong Kong, and Australia have reportedly begun blocking or restricting companies from becoming digital asset treasury vehicles.
Hong Kong Exchanges & Clearing Ltd. has rejected at least five companies seeking to become DATs, citing rules against “cash companies” that hold primarily liquid assets, according to a Bloomberg report on Wednesday, citing anonymous sources.
The Bombay Stock Exchange rejected a listing application last month from a company after it announced plans to invest proceeds in crypto.