This week’s crypto news covers Thailand’s proposed stablecoin transfer limits, MSCI’s decision to remove Strategy from its global equity indexes, a major leadership change at Nvidia, and Plume affiliate Kimber’s move into tokenized securities. Here are the four stories shaping the week across crypto regulation, markets, and institutional adoption.
Top gainers and losers of the week
- Pieverse (PIEVERSE) – extended its multi-week rally to lead the market once again, climbing 19.41% over the last seven days to reach $1.69;
- Kite (KITE) – built up solid buying momentum across the week, advancing 15.10% to lock in at a price of $0.1296;
- Midnight (NIGHT) – posted steady upward motion throughout the seven-day stretch, rising 13.04% to settle at $0.04407.
- Zcash (ZEC) – spearheaded the week's decliners under heavy selling pressure, dropping 26.06% to slide below the $1,000 mark at $965.08;
- Aero (AERO) – experienced a sharp pullback over the course of the week, losing 20.87% of its value to close at $0.4799;
- Bitcoin Cash (BCH) – drifted lower across the seven-day period, falling 16.56% to finish trading at $223.74.
Thailand SEC proposes limits on stablecoin transfers
Thailand's Securities and Exchange Commission (SEC) is seeking public comments on a draft notification to govern stablecoin transactions handled by digital asset business operators. The regulator says the rules aim to prevent money laundering, cybercrime and circumvention of international money transfer regulations. Comments close on Nov. 26.
Under the draft, stablecoins may only move between a customer's account at an operator and a wallet verified as belonging to the same customer. Transfers to or from another person's account or wallet would be prohibited. Transfers must follow the Travel Rule and use blockchain analytics tools to trace links to high-risk wallets.
Inbound and outbound transfers would each be capped at 5 million baht per customer per day with each operator. Exemptions cover market makers for stablecoin/baht pairs, firms with Bank of Thailand approval and approved token subscriptions, among others.
The draft would also bar liquidity providers for stablecoin/baht pairs, require exchanges to publish the names of their market makers, and set a 3 million baht minimum for off-platform transactions. Brokers could not conduct off-platform trades between customers.
The SEC said it drew on feedback from a September public hearing.
MSCI confirms Strategy will be removed from its global equity indexes
Index provider MSCI has confirmed that Strategy will be deleted from its global equity indexes, ending months of debate over whether crypto treasury firms count as operating businesses. MSCI's final list from its November index review shows "STRATEGY A" with the action "Deleted." Japan's Metaplanet and Upexi are also marked for deletion, while Ether treasury firm Sharplink is on a watchlist.
The changes take effect after market close on Nov. 30. Strategy shares fell 1.65% in after-hours trading on Wednesday.
Funds that track the affected benchmarks may sell the shares, which would cut a source of passive demand. JPMorgan previously estimated that Strategy's exclusion could trigger roughly $2.8 billion in selling.
Strategy opposed the plan, arguing that it repackaged MSCI's earlier effort to exclude digital asset treasury companies and injected policy judgments into index construction. The company still played down the risk. In its consultation response, it said MSCI-linked funds held about 13 million shares, or 3.1% of its basic shares outstanding and less than one day's trading volume.
Nvidia shares drop 13% at the open after Jensen Huang resigns as CEO
Jensen Huang resigned as Nvidia's president and CEO on Thursday and left the board, effective immediately. CFO Colette Kress will serve as interim CEO and keep her CFO role while the board considers internal and external candidates. Harvey C. Jones was named the board's first chair.
Nvidia shares fell more than 13% shortly after the US open and traded at $151.00. They later pared losses to about $165, down 5% on the day and more than 26% over the past month. Bitcoin fell as much as 3.5% to a multimonth low. Nvidia reports third-quarter results on Nov. 17.
The exit came four days after the board opened an independent investigation into reports that Huang was targeted by a foreign intelligence effort. On Tuesday, independent directors retained former acting US Attorney Joon H. Kim and the law firm Wachtell, Lipton, Rosen & Katz to run the inquiry.
Huang's estimated net worth fell to $140.6 billion from $162.2 billion on Nov. 9.
Plume affiliate Kimber registers as a US broker-dealer to offer tokenized stocks
Kimber Digital Securities, an affiliate of the Plume blockchain network, said Tuesday it has registered with the SEC as a broker-dealer and joined FINRA. It plans to offer tokenized US stocks, ETFs and bonds that investors can hold in self-custodial wallets. No launch date was given.
Unlike wrapped securities, the tokens would represent existing ownership rights recorded through the Depository Trust Company. Investors would keep dividend and voting rights and could move eligible holdings between brokerage accounts and onchain wallets. Kimber also plans yield-bearing products for stablecoin users, including tokenized shares in funds run by major US asset managers.
The registration comes as rivals prepare for round-the-clock trading. Formation Securities announced a Solana-based venue for tokenized shares of Galaxy Digital, Exodus Movement and Forward Industries, targeted for early 2027. The NYSE is building a 24/7 platform that uses Avalanche for settlement, and Nasdaq is targeting the second quarter of 2027 for its tokenized equity effort with Kraken's parent, Payward.
Gunel Ismayilova
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