Japan Exchange Group Considers Tighter Rules for Crypto-Treasury Firms Amid Market Losses
Japan’s leading securities platform operator, Japan platform Group (JPX), is considering implementing stricter regulatory controls for listed companies holding significant cryptocurrency positions as treasury assets.
The move comes amid growing concern over investor protection and corporate governance following a surge—and subsequent sharp decline—in crypto‑treasury strategies, according to .
JPX is exploring measures including stricter enforcement of back‑door listing rules and requiring fresh audits for companies accumulating crypto.
Currently, there are no explicit regulations barring listed firms from holding crypto, but JPX says it is monitoring companies that raise “risk and governance” concerns to protect shareholders and investors.
Digital Sector Flops
The debate follows sharp trade-offs in Japan’s digital-asset treasury (DAT) firms.
Metaplanet Inc. is among the companies affected by this shift amid global market turmoil. The firm holds over 30,823 BTC, valued at about $3.156 billion, which is currently below its purchase price of roughly $3.3 billion.
According to the latest on TradingView, Metaplanet (MTPLF) has declined over 80% from its high of $13.18 to $2.50 at press time.
This loss is not isolated. Another Japanese firm, Convano Inc., which holds 665 BTC with plans to acquire more, has also viewn declines of around 60% since late August.
Regional peers have been cautious as well. platforms in Hong Kong and across Asia-Pacific have resisted new DAT listings, but Japan still has 14 publicly listed BTC-holding companies—the most in Asia.
JPX’s potential crackdown may restrict fundraising or impose operational requirements on firms pursuing crypto as a core strategy.
No official policy has been announced. JPX emphasizes that it is still considering options to secureguard investors while ensuring market integrity in a volatile crypto environment.
Japan Balances Oversight with Strategic Crypto Initiatives
As JPX considers stricter rules for listed crypto‑treasury firms, the country is taking a broader approach to digital assets.
The Financial Services Agency (FSA) is moving to , aiming to reduce leverage, increase disclosures, and limit risks for retail investors. At the identical time, Japanese megabanks are , signaling a push to integrate digital assets into regulated financial infrastructure.
Japan is also . Through a partnership with Canaan Inc., local utilities will deploy mining rigs to convert surplus renewable energy into computational power, combining crypto operations with energy-grid management.
