The Nasdaq stock exchange has tightened its requirements for companies that accumulate cryptocurrency in their reserves. From now on, public issuers are required not only to conduct shareholder votes on specific transactions related to digital assets but also to disclose extensive information regarding cryptocurrency operations.
This is reported by Business • Media
New Standards and Their Impact on the Market
These measures are a response to the growing interest of corporations in using cryptocurrency as a treasury management tool. According to Architect Partners, since the beginning of 2025, 154 American companies have announced plans to raise over $98.4 billion for the purchase of digital assets, with most of them trading on Nasdaq. This is nearly three times more compared to the $33.6 billion raised by ten issuers before the start of 2025.
The exchange reserves the right to suspend trading or delist those companies that do not comply with the new requirements. Following the announcement of the tightened rules, the shares of some firms in the digital asset sector fell in price — investors are concerned about a potential slowdown in deal-making and increasing regulatory risks for companies actively using cryptocurrency on their balance sheets.
Transparency and Corporate Governance Strategies
Analysts emphasize that Nasdaq places particular importance on transparency: companies must disclose not only their plans for token purchases but also their strategies for using them, explain the integration of digital assets into financial policy, and take market volatility into account.
“The exchange requires disclosure not only of plans for token purchases but also of strategies for their use. Companies must explain how digital assets will be integrated into financial policy and consider market volatility.”
The tightening of control has occurred against the backdrop of an increasing number of public companies beginning to follow the Strategy (MicroStrategy) model, which actively invests in Bitcoin. Some firms are also considering more complex strategies using Ethereum and other tokens to diversify risks. Among the largest players are Strategy, which focuses on Bitcoin, and BitMine Immersion, led by Tom Lee, which is betting on Ethereum. As of September 4, 2025, both companies hold leading positions in the Digital Asset Treasury segment.
It was previously reported that Strategy acquired 4048 BTC for $450 million.