Today's Highlights
📋 ESMA requires EU crypto service providers to cease offering stablecoin services that do not comply with MiCA
🧊 US government moves over USD 1 billion in Bitcoin tied to the Bitfinex case; destination and purpose remain unclear
🏦 Standard Chartered plans to offer institutional crypto assets, stablecoin and real-world assets (RWA) custody in Singapore
🔎 US government transfers approximately USD 770 million in seized Bitcoin to Coinbase Prime
ESMA requires EU crypto service providers to cease offering stablecoin services that do not comply with MiCA
On 8 October, the European Securities and Markets Authority (ESMA) published an opinion requiring crypto asset service providers authorised under MiCA to cease providing services to EU clients in connection with asset-referenced tokens and e-money tokens that do not comply with MiCA. The scope covers trading, exchange, order execution, transfer, custody and investment advice, among others. With respect to existing exposures, competent authorities of Member States should require remediation as soon as possible and no later than three months after publication of the opinion. Services continuing during the remediation period must be limited to necessary activities such as clearing, exchange, withdrawal, transfer or safekeeping, and must be subject to time-limited, risk-oriented supervision.
Business impact
Licensed service providers operating in the EU need to verify whether the relevant tokens and their own services fall within the scope of the opinion, and must use technical, contractual and organisational controls to prevent clients from adding to or expanding exposures to non-compliant stablecoins. The three-month period is the upper limit for remediating existing exposures and must not be understood as permitting new business to continue for another three months.
In practical business terms, the following checks may be carried out in sequence:
• Verify the entity's MiCA authorisation and the scope of services provided to EU clients.
• Verify whether the stablecoins involved comply with MiCA requirements, and cease adding to or expanding the relevant exposures.
• Identify existing exposures and arrange for liquidation, exchange, withdrawal, transfer or custody as required by the competent authorities of the Member States.
Source: ESMA · 2026/10/8
U.S. Government Moves Over USD 1 Billion in Bitcoin in Bitfinex Case; Destination and Purpose Unclear
On-chain data shows that wallets associated with assets recovered by the U.S. government in the Bitfinex hack transferred more than 12,267 bitcoin, worth over USD 1 billion, and the identity of the receiving addresses has not been confirmed. Several hours earlier, approximately USD 770 million of seized bitcoin was transferred to Coinbase Prime. The two transfers differ in amount and destination, and neither supports a finding that the government has sold the assets.
Business impact
For institutions receiving or taking custody of assets involved in the case, the key is to verify the source of the assets, ownership, transfer instructions and the applicable judicial or forfeiture proceedings. An on-chain transfer alone does not indicate that the assets will subsequently be sold, auctioned or returned, and the relevant conclusions must await disclosure by the competent authorities.
In practice, the following checks may be carried out in sequence:
• Verify the receiving addresses and the on-chain source and ownership records of the assets involved in the case.
• Verify whether the transfer instructions come from an entity with authority to dispose of the assets.
• Retain records of custody, transfers and communications with law enforcement, and monitor official disposal announcements.
Source: Cointelegraph · 2026/10/8
Standard Chartered Plans to Provide Institutional Crypto Asset, Stablecoin and real-world assets (RWA) Custody in Singapore
Standard Chartered's Singapore entity has announced that, subject to compliance with applicable local regulatory requirements, it plans to provide custody services for selected crypto assets, stablecoins and tokenized real-world assets (RWA) to institutional clients and accredited corporate investor clients. The announcement did not confirm a specific launch date, the list of assets or the scope of regulatory permissions.
Business impact
Whether the service can be launched, which clients it will be offered to and which assets it will cover depend on the applicable rules in Singapore and the scope of the entity's permissions. Institutional clients also need to clarify asset control, segregation, instruction authority and insolvency risk in custody contracts; custody arrangements themselves do not replace compliance assessments at the token issuance and transfer stages.
In practical business terms, the following can be checked in sequence:
• Check the applicable permissions of Standard Chartered's Singapore entity and the scope of assets proposed for custody.
• Check client eligibility and the control, segregation and instruction clauses in the custody contract.
• Separately check the issuance, transfer and settlement rules for tokenized assets.
Source: Standard Chartered announcement · 2026/10/8
U.S. government transfers approximately US$770 million in seized Bitcoin to Coinbase Prime
On-chain research shows that addresses associated with the U.S. government transferred approximately 9,261 Bitcoin to Coinbase Prime within two days, with a reported valuation of approximately US$770 million. Some of this is connected to assets recovered in the Bitfinex hacking incident, while another approximately 2,456 Bitcoin came from previously unidentified holdings. The report did not confirm whether there was a sell instruction, nor did it disclose the final disposal arrangements for each batch of assets.
Business impact
As the receiving platform, Coinbase Prime needs to verify, based on the specific custody arrangements, the source of assets, authorized instructions and record-keeping obligations. A transfer to a platform address does not mean the assets have already been sold; the confiscation or return procedures for assets in different cases should also be checked separately.
In implementation, the following points may be checked in sequence:
• Distinguish the source, ownership and disposal procedures of assets in different cases.
• Verify the authorized entity under the custody agreement and the transfer instructions.
• Retain on-chain transfer and internal approval records, and track whether there is a formal disposal announcement.
Source: Cointelegraph · 2026/10/8
This daily report is compiled with AI assistance based on publicly available information and is for reference only; it does not constitute legal advice or recommendations.
