FDIC issues cease and desist letters alleging false or misleading representations about deposit insurance on crypto-related products
CFPB Monitor
AUGUST 23, 2022
On August 19, 2022, the FDIC issued cease and desist letters to five crypto companies, alleging they made false and misleading statements about FDIC deposit insurance and demanding immediate corrective action. According to the FDIC’s press release , “[b]ased upon evidence collected., Part 328, Subpart B.
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