US banking giant BNY Mellon is making strides towards offering custody services for Bitcoin and Ether, specifically for its exchange-traded product (ETP) clients. This development follows a Securities and Exchange Commission (SEC) review, which has important implications for how banks handle digital assets, Bloomberg reported on Tuesday. Earlier this year, the SEC’s Office of the Chief Accountant reportedly reviewed BNY Mellon’s approach to crypto custody. The bank is keen on engaging further with the SEC and other banking regulators to expand its crypto custody services. The bank aims to offer these services on a larger scale.
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