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Index Provider MSCI Removes Strategy From Equity Benchmark
MSCI Inc. has dropped Strategy Inc. from its global equity benchmarks, potentially triggering billions of dollars in stock sales and adding fresh pressure to the financing model behind Michael Saylor’s vast Bitcoin holdings.
Strategy is among the firms that the major index provider is removing from its MSCI USA Index after it adopted new eligibility rules, according to the Msci Inc-A: MSCI Equity Indexes November 2026 Index Review of the November 2026 Index Review for the MSCI Equity Indexes released Wednesday. Last month, MSCI said it would exclude companies classified as non-operating businesses under a new framework that takes effect at the close of Nov. 30.
Crypto’s Bid to Shake Up Stock Trading Revs Up Despite Backlash
Crypto’s race to grab a slice of the US stock market is picking up speed even as many of the companies whose shares are being targeted for tokenized trading are pushing back.
A stock-token platform run by OKXICE, a joint venture between cryptocurrency exchange operator OKX and New York Stock Exchange parent Intercontinental Exchange Inc., plans to launch Nov. 23. More than 70 digital assets tied to stocks and exchange-traded funds will be listed, though all won’t be available at the start. Its ambitions to include blue chips such as McDonald’s Corp., Coca-Cola Co. and JPMorgan Chase & Co. were thwarted after the companies objected to having their shares traded on the venue.
The pushback highlights an early hurdle for the nascent market, as companies weigh the promise of tokenization against concerns about how their shares would be represented and traded on unfamiliar venues.
Democrats May Rewrite CLARITY Act and Dare Trump to Veto It, Giancarlo Says
In a Nov. 11 interview with Bitcoin Magazine, former CFTC chair Chris Giancarlo said Democrats could draft their own version of the CLARITY Act after taking control of Congress on Jan. 3 and "dare you to veto it." He said Rep. Maxine Waters may retain roughly 80% of the current bill with 20% changed by Democrats, and that House Democrats have discussed shifting more authority to the SEC while limiting the CFTC, drawing on Waters’ Crypto Investor and Consumer Bill of Rights (custody protections, withdrawal safeguards, reserve reporting).
Giancarlo warned the measure could be reshaped as lawmakers attach unrelated priorities — citing possible restrictions, prohibitions or credit-card-fee proposals — and noted the original CLARITY Act stalled in September after the Senate failed a procedural motion 49–50 (it needed 60). He praised SEC–CFTC cooperation, urged clear jurisdictional lines, and called for filling vacant commissioner posts to preserve bipartisan rulemaking.
The South Korean National Assembly Discusses Eligibility for Won Stablecoin Issuance
On November 12, according to South Korean media ZDNet Korea, the South Korean National Assembly held a special discussion on won stablecoin regulation, and BDACS CEO Ryu Hong-ryeol called for won stablecoin issuance qualification not to be limited to banks, and for fintech and digital asset companies that meet regulatory conditions to be allowed to participate.
Currently, one of the main controversies in the legislative discussion of South Korea’s "Digital Asset Basic Act" is whether to require issuing entities to be majority-owned by banks with over 50% shareholding. Ryu Hong-ryeol believes that regulation should focus on assessing companies’ reserve asset management, issuance and redemption technical controls, and independent audit capabilities, rather than simply basing qualification on institution type. The meeting also discussed regulatory issues such as cold wallet custody of stablecoins, key management, multi-signature, audit cycles, and the scope of blockchain network usage, and proposed appropriately adjusting financial institutions’ related network isolation regulations.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Wednesday was $299.9 million. The total net asset value of Bitcoin spot ETFs is $93.7 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.24%.
The Bitcoin spot ETF with the highest net outflow on November 11 was iShares Bitcoin Trust, with a net outflow of $269.73 million, according to SoSoValue.
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