Digital Asset
Intelligence

Compliance

SONIA Group Prioritizes 09:00 Publication Time Amid Extended CHAPS Hours Review

Summary: SONIA Stakeholder Advisory Group reviews extended CHAPS settlement hours and data collection powers. Members prioritize keeping the 09:00 benchmark publication time despite proposed 24/7 operations. Market remains stable with £55bn daily volumes, while funds increase overnight allocations amid geopolitical tensions.

White House Crypto Council Chief Patrick Witt Resigns, Leaving Staff Vacancy

Summary: Patrick Witt, executive director of the White House Crypto Council, resigned to join the private sector, leaving the council without any remaining staff. His departure follows the exits of David Sacks and Harry Jung, occurring after the Digital Asset Market Clarity Act failed to advance in the Senate.

Solana Activates Alpenglow Oct 21, Cutting Finality to 150ms

Summary: Solana activates Alpenglow on Oct 21, cutting finality to 150ms. Validators will now vote off-chain, causing reported TPS to drop despite unchanged user activity. The update improves fault tolerance but marks only phase one of a two-part upgrade.

SEC and CFTC Crypto Rules Face Judicial Risk After Chevron Overturn

Summary: Post-CLARITY vote, SEC and CFTC issued pro-crypto rules on stock tokens and staking. However, legal experts warn these agency measures remain vulnerable to judicial review and political reversal, especially after the 2024 end of Chevron deference increased court scrutiny of regulatory authority.

Kraken Parent Payward Agrees to Buy Saldo Bank for EU License

Summary: Payward, Kraken's parent, agreed to buy Saldo Bank for an EU license and footprint in five markets. The deal, closing in 2027, enables Payward to offer traditional banking services like loans and deposits alongside crypto assets.

OCC Report Links Bank Restrictions on Crypto to Financial Crime Concerns

Summary: The OCC found that banks restricted services for digital asset firms, citing financial crime risks, though no specific examples were provided. The report, linked to a Trump executive order, notes institutions also limited coal and firearms sectors due to reputational concerns rather than financial risk.

Standard Chartered Launches Direct Crypto Trading for UAE Wealth Clients

Summary: Standard Chartered launched direct Bitcoin and Ethereum trading for UAE Professional Investors, using a VARA-approved closed-loop model with Zodia Markets. This expands its crypto services from institutional desks to retail wealth management, aiming to provide secure, regulated access without third-party wallets.