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Bank of New York Mellon is moving forward with crypto ETF custody services
Bank of New York Mellon (BNY) is moving forward with offering Bitcoin and Ethereum custody to its exchange-traded fund (ETF) clients after a review by the Securities Exchange Commission (SEC) decided that BNY is not required to comply with controversial cryptoasset accounting rule SAB 121. Since its introduction in 2022, SAB 121 has been requiring companies custodial crypto assets to book them as liabilities, putting pressure on the crypto industry. The SEC said that banks such as BNY have robus...
2024-09-24 22:29:15
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