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FDIC Flags OKCoin for 'Misleading Representations' of Deposit Insurance
The US Federal Deposit Insurance Corp. (FDIC) has ordered OKCoin to remove misleading statements that suggest that its customers' accounts were insured through the government agency. FDIC issued the order on Thursday in a letter addressed to the exchange's CEO, Hong Fang.FDIC has directed that OKCoin, the San Francisco-based exchange affiliated with OKX, immediately remove any offending claims from its website. Failure to which, the banking regulator warned, the company could face further enforc...
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Posted: Jun 16 2023, 10:02
Author Name: financemagnates
Views: 092075