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HKEX Reportedly Rejects at Least 5 Listed Firms' Core Biz Shift to DAT
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The three major stock exchanges in the Asia-Pacific region are cracking down on crypto hoarding platforms disguised as listed companies, Bloomberg quoted sources as saying. In recent months, HKEX (00388.HK) has challenged at least 5 companies seeking to transform their core business into digital asset treasury (DAT), emphasizing that listing regulations prohibit holding large amounts of liquid assets. Up to now, these companies have not received approval, while DAT faced similar opposition in India and Australia. Bitcoin logged an all-time new high of US$126,251 on 6 October, and has surged by approx. 18% this year, largely benefiting from firms hoarding bitcoin. AASTOCKS Financial News Website: www.aastocks.com |
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