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Is US SEC Favouring BNY Mellon on Crypto Custody? Hester Pierce Thinks So

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Banking giant BNY Mellon has moved a step closer to offering custodial services to crypto ETF issuers.

US SEC gave a nod for the banking giant to offer crypto custody by exempting some of the SAB 121 accounting rules specifically applicable to crypto custodians.

Caitlin Long , the CEO of crypto-friendly Custodian Bank , has openly called out this unfair treatment.