What exactly does the FDIC accuse OKCoin of
The regulator demanded that the platform delete messages indicating the agency's protection of user accounts. At the same time, the corporation indicated a couple of examples. So, the crypto exchange website mentions that the HASH token has been approved by the SEC regulator. It was also approved by the FDIC. And in 2020, the platform said that it had received a license to work in the United States. At the same time, she has FDIC insurance for OKCoin accounts.
In addition to the above, the example shows a post on Twitter. In it, the exchange claimed that it provides agency guarantees for user deposits.
In a letter sent to the exchange's founder, the FDIC threatened possible coercion if the platform did not delete the relevant posts. She refers to US banking laws. At the same time, the document emphasizes that the platform did not distinguish between accounts in dollars and cryptocurrencies. As a result, her messages suggest that insurance also applies to digital assets, when this is absolutely not the case.
Recall that the FDIC has put forward the same claims against Voyager Digital and the American FTX.