[News Brief] May 8, morning | Payward, Kraken’s Parent Company, Applies for a Nationwide Trust Charter from the U.S. OCC

Payward, Kraken’s Parent Company, Applies for a Nationwide Trust Charter from the U.S. OCC

Payward, the parent company of Kraken, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a nationwide trust charter, according to Wu Blockchain.

Through the application, Payward is reportedly seeking to establish Payward National Trust Company under federal regulation and expand Kraken’s cryptocurrency custody business.

The move comes amid a broader trend of crypto exchanges and custody providers in the U.S. strengthening institutional services within a regulated framework.

SEC Crypto Task Force Chief Counsel Says Market Structure Bill Would Improve Regulatory Clarity

The chief counsel of the U.S. Securities and Exchange Commission’s (SEC) crypto task force said that Bitcoin and cryptocurrency market structure legislation would strengthen the SEC’s efforts to provide clearer market regulation.

According to Bitcoin Magazine, the remarks came as discussions continue in the U.S. over establishing a more coherent regulatory framework for crypto assets. The market structure bill is focused on clarifying supervisory authority and regulatory standards for digital assets.

Coinbase, Kraken, and Gemini Urge U.S. Senate to Remove Listing Restriction Clause from Draft Digital Asset Bill

Coinbase, Kraken, and Gemini have urged the U.S. Senate Agriculture Committee to remove a token listing restriction clause from a draft digital asset bill. The clause would require exchanges to list only tokens that are not susceptible to manipulation.

According to Odaily, the three exchanges argued that the provision could make it difficult to list smaller-cap, low-liquidity cryptocurrencies and could later be used as a basis for tighter oversight by the U.S. Commodity Futures Trading Commission (CFTC).

The draft bill would expand CFTC authority over spot markets for digital commodities such as Bitcoin and Ether. The Senate Agriculture Committee has passed the relevant provision, though further revisions are expected as lawmakers seek Democratic support.

Senior Iranian Lawmaker Says Military Response Would Follow Any U.S. Naval Blockade

According to PANews, Iran’s Fars News Agency reported on the 8th that a senior Iranian lawmaker said the country would respond militarily to any U.S. naval blockade.

The remarks came amid ongoing tensions between the United States and Iran. If a naval blockade were to materialize, geopolitical risk in the Middle East could intensify.

Iranian Foreign Ministry Reviewing Response to U.S. ‘War Termination Plan’

According to Odaily, Iranian Foreign Ministry spokesperson Baghaei said Iran is reviewing its response to a U.S.-proposed “war termination plan” and that related negotiations are underway.

Baghaei claimed that U.S. military actions between the night of May 7 and the early hours of May 8 constituted a serious violation of international law and the ceasefire agreement. He described the current situation as a “nominal ceasefire” and said Iranian forces are prepared to respond if necessary.

The remarks came as Iran continues its official review of the U.S. proposal to end the conflict. Any renewed escalation in Middle East tensions could affect oil prices and volatility in risk assets.

Whale Alert: 3,750 BTC Moved Between Anonymous Wallets

Whale Alert reported that 3,750 BTC was transferred from one anonymous wallet to another.

The transfer was worth approximately $299.83 million. As there was no confirmed exchange inflow, it is difficult to conclude that the movement represents selling pressure.

Whale Alert: 2,751 BTC Transferred from Coinbase to an Anonymous Wallet

According to Whale Alert, 2,751 BTC was transferred from Coinbase to an anonymous wallet.

The transfer was worth approximately $220.57 million. A large BTC outflow from an exchange may be interpreted as a change in custody arrangements or a possible over-the-counter transaction.

Whale Alert: 1,760 BTC Moved Between Anonymous Wallets

According to Whale Alert, 1,760 BTC, worth about $140.83 million, was transferred from one anonymous wallet to another.

The movement was identified as a wallet-to-wallet transfer rather than an exchange inflow. Large BTC transfers are often watched as a potential source of market volatility, though the purpose of the transaction remains unclear.

Whale Alert: 718 BTC Moved from Anonymous Wallet to Coinbase

According to Whale Alert, 718 BTC, worth approximately $57.49 million, was transferred from an anonymous wallet to Coinbase.

Exchange inflows are commonly interpreted as potentially linked to selling activity, though the purpose of the transfer and whether any actual sale occurred have not been confirmed.

Whale Alert: 25,000 ETH Moved from Binance to Ether.fi

Whale Alert reported that 25,000 ETH was transferred from Binance to Ether.fi.

The transfer was worth approximately $57.98 million. The large movement of ETH from an exchange to an external platform is being watched by the market for possible holding or staking-related intentions.