[ Metropolitan Bank Halts All Cryptocurrency-Related Wire Transfers ]

sst (54)in #bitcoin • 7 years ago (edited)

In a move that will have far-reaching suggestions, Metropolitan Bank Holding Corp has stopped all cryptocurrency related wire transfers, as of now, per a report from Fortune. The data originated from explanations by Metropolitan clients who were educated that the bank would be "ceasing all international crypto-related wire transfers."
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The choice is very noteworthy for the cryp88tocurrency business. Metropolitan Bank has earned a reputation for being Bitcoin-friendly, as indicated by Fortune, which will probably affect its stock price.

For instance, Metropolitan is purportedly one of the fundamental specialist organizations for US-based cryptocurrency exchange Coinbase.

Sign of future regulation

The bank's authentic position has not yet been clarified, but rather it gives the idea that the danger of failure of check for global cryptocurrency transactions has led to the move. The need to meet Know Your Customer (KYC) regulations has expanded the potential for expanded regulations in the at present loose cryptocurrency climate.

Friday, US Treasury Secretary Steven Mnuchin showed that a worldwide push to control and oversee moves in cryptocurrency could be prospective.