Metropolitan Commercial Bank announced that it will end its involvement in the crypto-asset sector. This decision was made due to the latest U.S. regulatory changes, industry developments and other business opportunities. The bank said that this step will not have serious financial consequences, as only a small portion of its total income and deposits come from cryptocurrency-related customers.
Mark DeFazio, the bank's president and CEO, said they have never faced any significant financial risk in this segment. Metropolitan Commercial Bank provides payment services and debit cards to its customers and does not offer credits. Despite the exit from crypto-assets, customers can still transfer and receive funds from crypto-companies without any disruptions.