'BNY Identified as First Bank to Receive SEC Exemption From SAB 121' Which Would Allow The Bank To Custody Bitcoin -UnChained Report
Portfolio Pulse from Benzinga Newsdesk
Bank of New York Mellon (BNY) has become the first bank to receive an SEC exemption from SAB 121, allowing it to custody Bitcoin. This development marks a significant step in the integration of cryptocurrency into traditional banking services.
September 20, 2024 | 5:53 pm
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Bank of New York Mellon has received an SEC exemption from SAB 121, allowing it to custody Bitcoin. This positions BNY Mellon as a pioneer in integrating cryptocurrency services into traditional banking.
The SEC exemption allows BNY Mellon to offer Bitcoin custody services, potentially attracting new clients interested in cryptocurrency. This could enhance BNY Mellon's competitive edge and revenue streams in the growing crypto market.
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