Overview
- Hong Kong's stock exchange has objected to at least five companies seeking to pivot to digital asset treasury models, with none approved according to local reports cited by multiple outlets.
- SFC chairman Kelvin Wong warned that some DAT-linked shares trade at substantial premiums to the cost of their crypto holdings, heightening investor-protection concerns.
- The SFC is scrutinizing how listed firms use cryptocurrencies and will decide after its review whether to issue formal guidelines, with no timeline disclosed.
- Officials plan to expand investor education to address valuation gaps and disclosure standards around corporate crypto exposure.
- The review forms part of broader listing reforms that could include lowering the weighted voting rights threshold to attract innovative issuers, as other markets like Australia and India also tighten oversight.