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The US Federal Deposit Insurance Corporation has demanded that the FTX.US exchange stop making misleading statements about supposedly FDIC-insured cryptocurrency products.
Federal Insurance CorporationThe US FDIC has issued a notice to cryptocurrency exchange FTX.US requiring it to take immediate corrective action to correct these false or misleading statements.
“These advertisements are false and misleading.delusion. The Federal Deposit Insurance Act prohibits any person or entity from intentionally misrepresenting the extent or manner of deposit insurance provided by the FDIC or advertising an uninsured product as being insured by an authorized federal agency. The FDIC requires FTX.US to take immediate corrective action to address the violations identified,” the agency said in a statement.
The FDIC reminded that the federal agency does notinsures cryptocurrency products, stocks and brokerage accounts. The FTX.US exchange has 15 working days to eliminate any violations. Failure to comply with the request may result in further legal action by the FDIC.
Earlier it became known that the FTX cryptocurrency exchange and its American subsidiary FTX.US began negotiations with potential investors about preparing a new round of financing.
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