Tokyo Stock Exchange is Concerned About the Entry of Cryptocurrency Companies Into the Market
The Tokyo Stock Exchange (TSE) positively perceives foreign companies entering the Japanese market. At the same time, in regard to companies leading activities related to digital assets, the situation is the opposite. In particular, we are talking about Noah Ark Technologies - Hong Kong company, which plans to enter the Japanese market and launch a trading platform here. In addition, the company plans to conduct an ICO.
Noah Ark Technologies acts as shareholders of Beat Holdings. In addition, Noah Ark Technologies also proposed that the company issue new shares. To date, Beat Holdings has a market capitalization 7.3 billion Japanese yen, equivalent to 66 million US dollars.
The Hong Kong company plans to launch a crypto exchange in Japan, the US, China and some European countries. In addition, within the ICO it is planned to collect about $1 billion.
It is reported that the Tokyo Stock Exchange, unable to stop the purchase, is experiencing certain difficulties. The representative of TSE said that the main concern is that the crypto exchanges have shortcomings in the protection of investors. It is also reported that Noah Ark Technologies was not approved as the operator of cryptocurrency exchanges in Japan.
In turn, Beat Holdings CEO Lian Yin Han noted that his company's shareholders resisted the takeover of Noah Ark Technologies. He also noted that most likely Noah Ark will be held ICO in Singapore or Hong Kong - in the markets where Beat is already present.
Note that Noah Ark Technologies, today acts as one of the largest shareholders of Beat Holdings. The company owns 15% of the shares.