BNY Mellon, considered the oldest bank in the United States, has been granted permission to hold cryptocurrencies. The permission granted by the SEC also exempts the bank from the controversial SAB 121 rules. In recent weeks, it has been signaled that some institutions will be exempted from SAB 121, the cancellation of which was vetoed by President Biden. BNY Mellon, which manages more than $2 trillion in assets, was the first of these institutions.
