• 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

a year 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

XRP Price Falls Below Important Support Levels.

chest

XRP price has extended its losses, trading below significant support levels and entering a bearish zone.

user avatarBayarjavkhlan Ganbaatar

Bitcoin ETFs Match Gold Inflows in Record Time

chest

Bitcoin ETFs have matched gold ETFs in investor inflows in under two years, despite a significant price drop.

user avatarMohamed Farouk

South Korea's Corporate Crypto Investment Guidelines Favor Non-Stablecoins

chest

The Financial Services Commission (FSC) of South Korea has proposed guidelines allowing investments in the top 20 non-stablecoin cryptocurrencies, capping corporate exposure at 5% of a company's capital.

user avatarElias Mukuru

South Korea Excludes Stablecoins from Corporate Investment Framework

chest

South Korean financial regulators are set to exclude US dollar-pegged stablecoins from a new framework allowing corporate investments in cryptocurrencies.

user avatarDiego Alvarez

Inactivity Among Bitcoin Long-Term Holders Amid Market Uncertainty

chest

Recent data shows that Bitcoin long-term holders are largely inactive, choosing to hold their assets instead of redistributing them.

user avatarKenji Takahashi

Hourglass V2 Proposal Introduced to Safeguard Satoshi Nakamoto's Bitcoin

chest

Hourglass V2 proposal introduced by Hunter Beast aims to limit P2PK outputs to one per block to safeguard Satoshi Nakamoto's Bitcoin holdings from quantum threats.

user avatarMaria Fernandez

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.