Bank of New York Mellon (BNY Mellon) has made significant progress towards offering crypto custody services for ETFs. This development follows a review from the U.S. Securities and Exchange Commission (SEC).
The SEC has relaxed its stance on certain accounting practices outlined in SAB 121, making it easier for financial institutions to provide cryptocurrency custody services while ensuring regulatory compliance.
This move is expected to bolster confidence among traditional financial institutions as they navigate the evolving landscape of digital assets and regulatory requirements.
