HKEX Tightens Rules for Digital Asset Firms, Aiming to Enhance Market Integrity

The Hong Kong Stock Exchange (HKEX) is tightening its listing requirements in response to increased scrutiny of firms seeking to transition into digital asset treasury models. The exchange has blocked applications from companies that are heavily reliant on crypto reserves and instead must demonstrate sustainable business operations, according to sources familiar with the matter. This move comes as other Asian exchanges have also resisted approving similar transitions, reflecting growing skepticism about the viability of these models.