Backdoor Ban: JPX Declares War on Listed Crypto “Treasury” Companies

The Japan Exchange Group is drawing a line in the sand against the crypto craze. In a significant regulatory move, JPX is preparing to explicitly block listed companies from transforming into de facto crypto funds.

The strategy involves a two-pronged attack: a stringent new interpretation of its backdoor-listing prohibition and potential mandatory re-audits for any firm pivoting to a crypto-heavy strategy.

This isn’t just a future threat—JPX has already flexed its authority, forcing three companies to abandon their crypto plans and warning them that their access to capital would be cut off if they proceeded.