Billion-Dollar Bank BNY Set to Custody Bitcoin (BTC) as the First Bank in U.S. History
BNY Mellon becomes the first bank with the SEC exemption from crypto accounting rules. SEC’s variance for BNY Mellon could open doors for more banks in crypto. BNY Mellon has emerged as a pioneer in the cryptocurrency custody industry, becoming the first bank to be excluded from the SEC’s Staff Accounting Bulletin No. 121 (SAB…