• 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

Chainalysis Releases New Research Report on Cryptocurrency

chest

Chainalysis has recently published a research report that focuses on various aspects of cryptocurrency, providing valuable insights into current trends in the market.

user avatarLeo van der Veen

ETHBTC Ratio Falls to Early 2023 Levels, Raising Investment Questions

chest

The ETHBTC ratio has dropped to 0.027, bringing it back to early 2023 levels, raising questions about Ethereum's market position relative to Bitcoin.

user avatarAisha Farooq

ETHUSDT Chart Signals Bearish Correction Amid Market Concerns

chest

The ETHUSDT chart indicates a bearish correction following a strong weekly open, suggesting a deeper pullback may be needed.

user avatarLi Weicheng

XRP Approaches Critical Support Zone

chest

XRP is currently trading at a significant support area that may influence its next major price movement.

user avatarBayarjavkhlan Ganbaatar

Hyperliquid ETFs Gain Attention with $158 Million in Assets

chest

Three Hyperliquid ETFs launched in May 2026 have accumulated $158 million in combined assets, drawing attention from traders.

user avatarTenzin Dorje

Bitcoin Approaches Key Resistance Level at $64,100

chest

Bitcoin is currently approaching a significant local resistance level at $64,100, following an 11% correction.

user avatarMohamed Farouk

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.