Fortune news magazine reported on January 14th that the Metropolitan Bank Holding Corp had called an immediate halt to all its digital currency wire transfers. Customers were informed that they had been sent a notice by Metropolitan, stating that the bank was ceasing all \"international crypto-related wire transfers\" from and to their investment accounts.

The decision is allegedly in response to an international fraud incident connected to a Metropolitan client, and may have wide-reaching implications in the cryptocurrency community. The most immediate of these is likely to be a possible impact on stock prices, which continue to be volatile.

Metropolitan Bank had been experiencing rapid growth since its IPO (Initial Public Offering) in November, partly due to a Bitcoin-friendly stance, earning it the nickname of \"The Bitcoin Bank.\" It provides a range of services for Coinbase, the US-based digital currency exchange, including deposits, wire transfers, and a Bitcoin debit card. This rapid growth could be curbed by the decision, and other altcoins like LTC, TRX and ZDR could be impacted.

 It also puts other American financial institutions at risk, if they are holding funds on behalf of international investors, as they have no way now to return them. Conversely, non-American-based institutions who manage their international investors\' funds exclusively via Metropolitan will find their operations frozen or permanently closed off.