đ Big news in the crypto world! BNY Mellon, America's oldest bank, is stepping up its game in Bitcoin (BTC) and Ethereum (ETH) custody. Thanks to an exemption from the SEC's Staff Accounting Bulletin 121 (SAB 121), BNY Mellon can now provide custodial services for spot BTC and ETH ETFs without considering customer crypto as a corporate liability.
đ This move could shake up Coinbase's dominance in the market and pave the way for more traditional banks to enter the crypto custody space. With the crypto custody market growing at 30% annually, the sector could hit $1 billion by 2032!
What do you think? Will BNY Mellonâs entry change the game? Comment below! đŹ
