• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

BNY Mellon Gets SEC Approval to Offer Bitcoin and Digital Asset Custody

user avatar

by Giorgi Kostiuk

2 years ago

  1. SEC Approval
  2. New Opportunities for BNY Mellon
  3. Centralization Concerns


    4. On September 20, 2024, leading global asset custodian BNY Mellon received approval from the U.S. Securities and Exchange Commission (SEC) to offer Bitcoin and other digital asset custody services.

    SEC Approval

    The SEC granted BNY Mellon the right to custody Bitcoin and other digital assets. BNY Mellon received an exemption from the requirements of Staff Accounting Bulletin (SAB) 121, making it easier for banks to enter the crypto custody space.

    New Opportunities for BNY Mellon

    This approval allows the $49 trillion asset custodian to hold not only Bitcoin but also many other digital assets. It could be one of the most significant events for the cryptocurrency market in 2024.

    Centralization Concerns

    Concerns are rising over the potential increase in centralization within the cryptocurrency space. Many community members express concern that large banks might undermine the decentralized foundation of Bitcoin and other cryptocurrencies.

    The SEC's approval for BNY Mellon to custody Bitcoin includes 'all digital assets,' meaning the $49 trillion asset custodian can hold crypto. This could be the single most significant event of 2024.MartyParty

    The SEC's approval for BNY Mellon to custody digital assets opens new opportunities for institutional investors but also sparks discussions about the impact of large banks on cryptocurrency decentralization.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

China Introduces New Guidelines for Crypto Money Laundering Prosecutions

chest

An article outlines a framework for prosecuting crypto money laundering in China, proposing presumptions of criminal intent and a national platform for seized cryptocurrency.

user avatarDiego Alvarez

Bitcoin Reaches New High Before Major Decline

chest

Bitcoin reached an all-time high of $126,080 in October 2025 but has since seen a nearly 50% decline.

user avatarKenji Takahashi

Cryptocurrency Market Faces Bear Territory Amid Economic Uncertainties

chest

The cryptocurrency market has faced significant challenges, entering bear territory due to macroeconomic uncertainties and geopolitical tensions.

user avatarMaria Fernandez

Dedollarization Gains Momentum in Developing Countries

chest

Emerging economies, led by Russia, are increasingly focusing on dedollarization to strengthen their local currencies in the forex markets.

user avatarGustavo Mendoza

Russia and India Strengthen Bilateral Trade Deal

chest

Russia and India are accelerating their bilateral trade deal aimed at reaching a $100 billion target by 2030, focusing on local currency transactions.

user avatarRajesh Kumar

Kraken Enhances Crypto Trading with Tether Gold Listing

chest

Kraken has recently added Tether Gold to its trading menu, providing traders with enhanced options for commodity-backed assets within the crypto market.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.