**BNY Mellon Gets a Crypto Custody Green Light! đ**
- BNY Mellon is stepping into the crypto custody game for Bitcoin and Ether ETFs after the SEC gave it a thumbs-up on controversial accounting rules.
- The SEC's Office of the Chief Accountant reviewed and decided BNY doesn't need to follow the dreaded SAB 121.
- SAB 121, which made crypto assets a liability headache, has been a pain since April 2022.
- Other financial institutions might get the same break, the SEC hinted.
- BNY still needs more regulatory nods before rolling out services at scale.
Stay tuned for more crypto adventures!
