Curiously enough, all of the features you've mentioned are doable on the JVM, even without TCO support (I know this because I've worked on implementing them in https://github.com/puniverse/quasar – well, except for the "budget-based yield" but that's a minor change). The general idea is that instead of providing the implementation baked into the VM, you inject it into the compiled code using bytecode instrumentation (at load or compile time).

What truly separates BEAM from the JVM is the almost total process isolation, particularly, as you've mentioned, in the case of memory allocation and reclamation. This difference, however, entails tradeoffs – sometimes you'd want the one and sometimes the other.