The Metropolitan Commercial Bank is denying reports of its policy change on international wires relating to cryptocurrencies.

In an announcement, released on 16th January, Metropolitan Bank Holding Corp, the bank’s parent company, confirmed it was replying to content written in various articles about its policies, which it said hadn’t been amended or revised. This latest statement comes after the bank had allegedly terminated international wire transfers relating to cryptocurrencies as it couldn’t prove that banks overseas were working in compliance with specific rules and regulations. Reports also suggested that this action was a result of an episode of fraud connected with a client of the bank.

The Metropolitan Bank Holding Corp also explained that the bank had delivered and reiterated policy reminders to customers against accepting wire transfers related to cryptocurrencies from non-US bodies. They then confirmed that this was not a new procedure and the bank did not experience any international fraud. While the release did clear up the speculation about a change in policy, it made no reference to domestic wire transfers or wire transfers from US entities.

The comments also reiterated the fact that the Metropolitan\'s current policy is the product of a risk-avoidance policy, designed to maintain the safe operation of the bank in line with various financial regulations and laws.