Bank of New York Mellon (BNY Mellon)

2024: Moscow Region Court Arrests Bank of New York Mellon and JP Morgan Chase Bank Accounts

In October 2024, the Arbitration Court of the Moscow Region, at the request of the Prosecutor General's Office of the Russian Federation, arrested $372 million (more than 34.7 billion rubles) in the accounts of American banks.

2023: Staff cuts

World banks cut more than 60 thousand jobs in 2023

2022: Acceptance of cryptocurrency for safekeeping begins

On October 11, 2022, BNY Mellon (Bank of New York Mellon), the oldest American bank, began to accept cryptocurrencies for storage and provide them with the same list of services as for other assets. Moreover, a single platform is used for this.

BNY Mellon announced plans to work with cryptocurrencies in February 2021. This fall, the financial regulator of New York issued the bank permission to conduct operations with Bitcoin and Ethereum of a certain circle of customers. In the first stage, these will be investment companies and funds, but then the coverage will expand (as the necessary licenses are obtained). The possible timing of the provision of services to ordinary owners of cryptocurrencies has not yet been reported.

BNY Mellon begins accepting cryptocurrencies for storage

The bank will store the keys necessary to access and transact with the named cryptocurrencies. In addition, the same services that are currently offered to holders of shares, bonds and other financial assets will be available to customers.

When working with Bitcoin and Ethereum, BNY Mellon Bank uses software developed in conjunction with Fireblocks. Plus, Chainalysis software is used to help analyze and track actions with cryptocurrency before it goes to the bank for storage.

Thus, BNY Mellon became the first of eight systemically significant ones banksUSA that will store digital currencies and allow customers to use one platform for managing assets of different types. Market participants say that this event marks an important milestone in the evolution of the traditional banking sector. In fact, we are talking about recognizing digital assets as a completely legitimate market and the basis of new business models. Apparently, others will follow the example of BNY Mellon in the future. the Americanbanks^[1]

2017: Freezing of assets of the National Fund of Kazakhstan for $22 billion at the suit of a Moldovan businessman

On December 21, 2017, it became known that Bank of New York Mellon froze the assets of the National Fund of Kazakhstan in the amount of $22 billion due to litigation on the claim of Moldovan businessman Anatoly Stati and his companies against the government of Kazakhstan. This was reported by Reuters, citing a source familiar with the situation. The amount of frozen funds is about 40% of the total assets of the fund.

In turn, the National Bank of Kazakhstan filed a lawsuit against BNY Mellon. A court in London will consider this case on December 28, according to a Reuters source.

Legal proceedings between Stati, his son Gabriel, two family-controlled companies and the Republic of Kazakhstan have been going on for several years in various courts.

Moldovan entrepreneurs who invested in Kazakhstan's oil and gas industry claim to have been significantly harassed by the country's authorities, who tried to get them to sell their investments cheaply.

The businessmen said that these persecutions negatively affected the value of their investments, as Kazakhstan hoped to seize the fields they owned and therefore tried to reduce the price. Kazakhstan denies these accusations^[2].

In October 2017, Kazakhstan filed a lawsuit in a district court in Washington against Anatoly and Gabriel Stati, as well as two of their companies: Ascom Group S.A. and Terra Raf Trans Traiding Ltd.

The lawsuit was filed after the international arbitration court awarded about $500 million to the Stati family.

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