• 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 Momentum Indicator Remains Negative, Signaling Market Weakness

chest

The Bitcoin Price Momentum indicator has shown a negative trend since May 22nd, indicating weakening market conditions and potential volatility in the cryptocurrency market.

user avatarLi Weicheng

Short-Term Bitcoin Holders Move 107,760 BTC Amid Market Concerns

chest

Short-term Bitcoin holders moved 107,760 BTC, indicating potential capitulation amid market concerns.

user avatarAisha Farooq

Bitcoin Expected to End May in the Red Amid Bear Market Trends

chest

Bitcoin is projected to end May 2026 in the red, continuing a historical trend where the cryptocurrency has never posted three consecutive months of positive performance during bear market years.

user avatarTenzin Dorje

XRPBTC Chart Indicates Potential Shift in Market Dynamics

chest

The XRPBTC chart is showing a falling wedge pattern, suggesting significant accumulation and a potential shift in market dominance.

user avatarBayarjavkhlan Ganbaatar

Operation Economic Fury: US Intensifies Campaign Against Iran

chest

The United States has intensified its campaign against Iran through Operation Economic Fury, targeting illegal oil smuggling and shadow financing, leading to severe economic repercussions for the Iranian government.

user avatarMohamed Farouk

SEC Takes Action Against Nathan Fuller for Crypto Investment Fraud

chest

The SEC has filed charges against Nathan Fuller for allegedly defrauding 150 investors in a multimillion dollar crypto investment scheme.

user avatarDiego Alvarez

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.