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Top US Regulator Tells Banks to Police Crypto Companies Over Misleading Deposit Insurance Claims

Top US Regulator Tells Banks to Police Crypto Companies Over Misleading Deposit Insurance Claims

The Federal Deposit Insurance Corporation (FDIC) is telling banks to keep an eye on crypto companies and any potential deceptive deposit insurance claims. In a new advisory note, the FDIC says it’s concerned about the risks misleading deposit insurance claims pose to investors. According to the regulatory body, confusing representations of deposit insurance may lead […]

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Embattled Crypto Brokerage Voyager Accused of False Insurance Claims by US Fed and FDIC

Embattled Crypto Brokerage Voyager Accused of False Insurance Claims by US Fed and FDIC

The US Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) are accusing crypto brokerage firm Voyager Digital of falsely representing its deposit insurance status. In a joint letter, the two regulators claim Voyager violated section 18(a)(4) of the Federal Deposit Insurance Act. “Section 18(a)(4) of the Federal Deposit Insurance Act (‘FDI Act’), 12 U.S.C. […]

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Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims

Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance ClaimsFollowing Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The FDIC’s letter explains that Voyager’s FDIC claims are false and misleading, and the entity […]

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FDIC Issues Warning to US Banks, Says Crypto Assets Could Disrupt Traditional Finance System

The Federal Deposit Insurance Corporation (FDIC) is issuing a warning to US banks over the safety of crypto assets. In a new statement, the regulatory agency says that crypto-related activities may pose significant financial risks to both institutions and consumers. “The FDIC is issuing this letter to address the engagement by FDIC-supervised institutions in crypto-related […]

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Fundstrat’s Tom Lee Says Positive Setup for Stock Market Forming, Sees Incoming Rebound for 2025

FDIC Acting Chairman Names Crypto As Top Priority for Risk Evaluation in 2022

A top US banking regulator is prioritizing the risk evaluation of crypto asset-related activities in 2022. In a new statement, acting chairman of the Federal Deposit Insurance Corporation (FDIC) Martin J. Gruenberg says that the rapid introduction of crypto assets into the financial system poses “significant” risks. The chairman says crypto evaluation represents one of […]

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Fundstrat’s Tom Lee Says Positive Setup for Stock Market Forming, Sees Incoming Rebound for 2025