Vietnam will consolidate its stock exchanges by moving all Hanoi-listed stocks to the Ho Chi Minh City Stock Exchange in late December, completing a market restructuring that affects about 5.4% of total market capitalization. The move follows Vietnam's upgrade to secondary emerging market status by FTSE Russell and supports the government's goal of attracting foreign capital and securing a similar upgrade from MSCI.
The Bitcoin Policy Institute released a report questioning MSCI's proposed index rule changes that could exclude Bitcoin treasury companies, citing concerns about transparency and potential bias against digital asset firms. MSCI manages $21 trillion in benchmark assets, and the new "non-operating company" classification could trigger significant capital reallocation if implemented.
A U.S. Senate bill introduced by Republican Sen. Steve Daines proposes modernizing crypto tax code, including tax exemptions for small stablecoin purchases and new wash-sale rules. The proposal has backing from Senate Banking Chair Tim Scott and other senators, and could facilitate wider use of stablecoins for everyday payments if passed.
Bitcoin Policy Institute released research alleging MSCI attempted to exclude companies holding Bitcoin treasuries from major stock indexes through ESG criteria, discovering internal project files labeled 'DATCOs' embedded in supposedly neutral methodology proposals. MSCI had previously warned about cryptocurrency exposure as an ESG concern in 2021, with CEO Henry Fernandez publicly championing strict ESG investing standards.