BNY Mellon Secures Exemption: A Major Step in Digital Currency Custody Services
Friday, 20 September 2024, 14:22
Breadth of Opportunities After SEC Waiver
BNY Mellon has successfully obtained a waiver from the SEC’s SAB 121, allowing it to spearhead institutional custody solutions for digital currencies. This pivotal shift illustrates a broadening embrace of cryptocurrencies within mainstream finance.
Impact on the Market
The SEC's decision signifies a considerable leap forward for banks looking to provide digital asset custody services. As institutions become more comfortable with these assets, the potential for growth in the market is substantial.
- Expansion of digital currency services
- Increasing institutional interest
- Positive implications for forex news
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.