Michael Saylor sparks excitement with Bitcoin custody news!

In a bold statement that’s catching everyone's attention, MicroStrategy Chairman Michael Saylor has hinted at “credible rumors” that major U.S. banks might soon dive into Bitcoin custody services. If this comes to fruition, it could redefine how traditional financial institutions engage with the crypto world.

One standout player, BNY Mellon, has already made waves. During recent testimony at Wyoming’s Select Committee on Blockchain, it was revealed that the bank received a significant exemption from the SEC's Staff Accounting Bulletin (SAB) 121, clearing a path for institutional crypto custody services.

Chris Land, counsel to U.S. Senator Cynthia Lummis, confirmed that BNY Mellon is ready to ramp up its involvement in digital assets. This development signals a promising future for crypto within the mainstream finance sector.

Stay tuned as we watch these transformative shifts unfold in the world of crypto custody!

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