Regulatory Policy

Focuses on global regulatory developments, policy changes, and compliance requirements. It provides in-depth analysis of government regulations and their impact on the cryptocurrency and blockchain industries, helping businesses and investors proactively manage policy-related risks.

Strategy Takes a Hard Line Against MSCI: The Ultimate Defense of DAT

In a significant industry clash, digital asset treasury company Strategy has issued a forceful 12-page public letter to MSCI opposing its proposal to exclude companies with over 50% digital asset holdings from its global investable market indices. Strategy argues the move is discriminatory, misleading, and threatens billions in capital flow, potentially causing up to $2.8 billion in passive outflows from its stock alone. The company defends its business model, asserting that digital asset treasuries (DATs) are operational companies—not passive funds—with active strategies like issuing digital debt instruments to fund Bitcoin acquisitions and generate shareholder returns. It compares its role to historic infrastructure builders like Standard Oil and AT&T, emphasizing Bitcoin’s transformative potential in finance. Strategy highlights four key objections: the proposal is arbitrarily discriminatory against digital assets; it violates index providers' neutrality principles; it is impractical due to Bitcoin's volatility and accounting disparities; and it contradicts the U.S. government’s pro-digital asset strategy. The firm demands MSCI withdraw the proposal or extend consultations. Backed by industry advocates and data showing over 200 public companies hold more than 5% of Bitcoin’s supply, Strategy urges MSCI to let markets—not biased rules—determine the value of digital asset companies. The decision, expected by January 2026, could redefine the role of crypto-native firms in traditional finance.

深潮12/11 08:38

Strategy Takes a Hard Line Against MSCI: The Ultimate Defense of DAT

深潮12/11 08:38

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