Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
One company highlighted in the press release allegedly “registered a domain name that suggests affiliation with or endorsement by the FDIC,” which the agency claims is “false and misleading.” “The FDI Act further prohibits companies from implying that their products are FDIC-insured by using “FDIC” in the company’s name, advertisements, or other documents,” the agency said.
This move by the FDIC comes amid an uptick in enforcement actions from global regulators on the cryptocurrency front.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: