[Tokyo Stock Exchange Plans to Strengthen Regulation on Bitcoin-Holding Companies] Japan's largest stock exchange operator, Japan Exchange Group (JPX), is considering implementing stricter scrutiny on publicly listed companies that shift their core business toward large-scale cryptocurrency holdings. This includes introducing new auditing requirements and more rigorous evaluations for reverse mergers. This move comes in response to the recent wave of losses by companies under the Japan Digital Asset Treasury (DAT). Take Metaplanet, for example, which holds over 30,000 Bitcoins. Its stock price has plummeted 82% from a high of $15.35 in May this year to the current $2.66. Another DAT company, Convano, saw its stock price drop 61% from its August high of $2.05 to $0.79. JPX's initiative may address regulatory loopholes and restrict companies from bypassing traditional listing requirements by engaging in reverse mergers or transitioning into cryptocurrency-holding entities.