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.
Meanwhile, Australia’s ASX bars companies from holding more than half of their balance sheets in cash-like assets such as crypto, making DAT models “essentially impossible.”
ASX-listed firms that pivot to investing in crypto “are encouraged to…more
Source cointelegraph.com
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