Strategy (MSTR.O), which holds significant Bitcoin reserves, faces potential removal from MSCI benchmarks and other major stock indices, a move that could reduce equity demand by up to $9 billion, Reuters reports. MSCI proposed in October to exclude companies whose digital asset holdings exceed 50% of total assets from its global benchmark indices, arguing such firms resemble investment funds, while affected companies contend they are operating businesses building innovative products and call the proposal discriminatory against the crypto sector. MSCI is conducting a public consultation and will announce its final decision on January 15, with analysts noting other index providers may follow if digital asset treasury companies are excluded.

A Brooklyn court filed charges against Ronald Spektor on Dec. 20 over an alleged Coinbase impersonation scam totaling about $16 million, BlockBeats reports. Spektor allegedly posed as Coinbase support to defraud about 100 users and now faces 31 counts. Police seized about $105,000 in cash and $400,000 in crypto.

The Federal Reserve on December 19 requested public comment on a proposal to offer limited "payment accounts" to certain financial institutions, BlockBeats reports. The accounts would allow eligible institutions to use the Fed's payment services for clearing and settlement while excluding broader benefits available to banks, such as interest earnings and credit facilities. Fed Governor Christopher Waller said the accounts could "support innovation" while maintaining payment system safety. Under the proposal, the payment accounts would be distinct from master accounts, would not earn interest or provide Fed credit facilities, and would be subject to balance caps; Waller first suggested the concept in October last year.

Federal Reserve Governor Christopher Waller held what was described as a "strong" interview with U.S. President Donald Trump for the Fed chair position on Dec. 19, CNBC reported. BlockBeats relayed the report.

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, said on Dec. 19 that authorities had received 36 stablecoin license applications from various sectors by end-September and expect to issue some licenses early next year, with priority given to robust reserve management, price stability and anti-money laundering measures, Hong Kong Economic Times reports. The requirements are designed to protect investors and create a clear compliance path that reduces ambiguities which could trigger trading conflicts, he noted, adding that the city's stablecoin ordinance took effect in August and the Hong Kong Monetary Authority stated in October it will review applications in line with the ordinance and relevant supervisory rules, with only a few licenses to be granted in the first phase due to higher entry thresholds. On virtual asset trading and custody service provider licenses, Hui said the government is working with the Securities and Futures Commission on detailed rules and plans to submit the regime to the Legislative Council next year, stressing the framework will cover key segments of the virtual asset industry and seek a balance between risk management and innovation. He reiterated that the Hong Kong government has carefully crafted these policies to foster innovation without undermining stability, while acknowledging that the People's Bank of China said last month that stablecoins carry risks of being used for illegal activities, which has drawn market attention to whether this could affect Hong Kong's direction on stablecoin development.

The Bank of Japan said on Dec. 19 it will continue raising policy interest rates if economic and price developments align with current forecasts, BlockBeats reports. The central bank indicated further rate increases depend on economic conditions and inflation trends matching its projected path.

The U.S. Senate has confirmed Michael Selig as chair of the Commodity Futures Trading Commission (CFTC), according to The Block. The report notes that his confirmation comes as the CFTC’s role in regulating cryptocurrency and other digital commodities continues to expand.