<ul><li>BNY Mellon is moving forward with its plans to launch custody services for Bitcoin and Ethereum after receiving an exemption from the SEC's Staff Accounting Bulletin (SAB) 121.</li><li>BNY Mellon is the first bank to receive this exemption, which allows it to avoid treating crypto custody as a balance-sheet liability.</li><li>The bank intends to provide custody services for Bitcoin and Ether held by clients of exchange-traded products (ETPs), and is actively engaging with regulators to scale up these services.</li><li>The crypto custody market is expanding rapidly, with estimated worth of $300 million and growing at 30% annually. BNY Mellon aims to tap into this market by offering comprehensive end-to-end solutions for digital asset custody.</li></ul>

BNY Mellon Moves Forward With Bitcoin Custody Services Following SEC Exemption

Discover more