Federal Deposit Insurance Corporation ( FDIC), the US stock exchange affiliated with OKX OKCoinnot to mislead customers warned about.
In the crypto sector, the moves of regulators and various institutions continue. SEC lawsuits, pressure from the CFTC, and finally of the FDIC movehit the market.
FDIC targeted US OKCoin, the crypto exchange affiliated with OKX. The FDIC reported that OKCoin promotes uninsured deposits as if they were insured. US insurance agency, to OKCoin warning letter sent.
FDIC Warns OKCoin
Federal Deposit Insurance Corporation ( FDIC), OKCoinCEO hong to Fang sent a letter. In the letter, OKCoin’sI’m in the wrong direction faded and a warning was given.
from the FDIC In the incoming letter, three cases were pointed out in which the exchange made false claims. US institution, especially OKCoin’s FDIC insurance targeted the discourses that it was licensed with Another issue OKCoinon you HASHbecame a token. FDICstated that the statements that this token has passed regulatory audits are false.
FDIC, holds the power to suspend and cancel services in the United States. of the FDICin his letter, In fact, OKCoin is not FDIC insured and the FDIC does not insure non-deposit products.” was noted.
Conveying that it does not approve or support any blockchain projects, the FDIC stated that the implied insurance and licensing situations are not realistic.
One OKCoin spokespersonHe told Blockworks that the platform is aware of the incoming warning and that F He said that they have started work to evaluate the statements of DIC.
