7 Reasons JPX Should Reconsider Its Proposed Digital Asset Exclusion From TOPIX
The article argues that JPX should abandon its proposal to exclude crypto-asset companies from the TOPIX index to maintain neutrality and market consistency.Summary
The article outlines seven reasons why JPX Market Innovation & Research (JPXI) should reconsider its proposal to exclude companies with significant crypto-asset holdings from the TOPIX index. The author argues that a crypto-specific screen deviates from the index's established objective, rules-based methodology. The proposal is criticized for lacking clear definitions of "principal asset," potentially incentivizing companies to restructure to bypass rules, and creating internal contradictions by exempting existing members. Furthermore, the author notes that international peers have not adopted such exclusions and suggests that an asset-neutral framework would be a more durable and transparent solution for index management.
(Source：Bitcoin Magazine)