Metropolitan Bank will terminate services related to cryptocurrencies

ChainCatcher news, Metropolitan Commercial Bank (MCB) announced its decision to exit the vertical industry related to crypto assets. MCB stated that this decision was made after careful review by the board and management, reflecting the latest developments in the crypto asset industry and significant changes in the regulatory environment regarding banks' participation in crypto asset-related businesses.

According to MCB, it will minimize the impact of the exit, as its current four cryptocurrency clients account for approximately 1.5% of its total revenue and 6% of its deposits. (source link)