• 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

Bitcoin Price Forecasts Show Significant Growth Potential

chest

Bitcoin price forecasts indicate significant growth potential, with projections reaching $90,000 by mid-July 2026 and $1,000,000 by 2040.

user avatarJacob Williams

Grant Cardone Announces Major Bitcoin Investment Plan

chest

Billionaire Grant Cardone announces a plan to invest $500 million in Bitcoin this year, aiming to accumulate 10,000 BTC tokens amid the ongoing US-Iran war.

user avatarZainab Kamara

Ethereum Experiences Significant Buyside Pressure in Derivatives Markets

chest

Ethereum has experienced its strongest buyside pressure on derivatives markets since the 2022 bear market, indicating a potential shift in market dynamics.

user avatarSon Min-ho

Ripple CTO Emeritus Warns of Security Risks in DeFi Bridges

chest

David Schwartz, former CTO of Ripple, warns about security risks in DeFi bridges, emphasizing the need for better governance and risk management following the KelpDAO incident.

user avatarAyman Ben Youssef

Analyst Identifies Key Resistance and Support Levels for Bitcoin

chest

Crypto analyst Behdark identifies key resistance and support levels for Bitcoin price.

user avatarTando Nkube

Solana Price Decline Continues Below Key Levels

chest

Solana's price has failed to stabilize above 90, leading to a decline below 85 and further losses.

user avatarKofi Adjeman

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.