Metropolitan Commercial Bank is saying goodbye to crypto. The move will have minimal financial impact, according to the company. Metropolitan Commercial Bank is set to exit the cryptocurrency market completely, according to a statement by the bank. In its recent report to the US Securities and Exchange Commission (SEC), the bank said that the move comes in response to developments in the cryptocurrency industry. Including changes to regulatory policy and a strategic assessment of the bank’s business case. Gensler’s Feud with Crypto The current SEC chair, Gary Gensler, has taken repeated swings at cryptocurrency, and this may have been a
In a strategic move that solidifies its presence in the cryptocurrency sector, Thailand’s Kasikorn Bank has announced the acquisition of a 97% stake in Satang Corporation Company Limited, the parent company of the Satang cryptocurrency exchange. The deal, valued at 3.705 billion Thai baht ($102.8 million), was conducted through a…