The Federal Deposit Insurance Corporation (FDIC) has issued a cease and desist letter to Unbanked, Inc. concerning potential violations of Section 18(a)(4) of the Federal Deposit Insurance Ac (12 U.S.C. § 1828(a)(4)) for deceptive statements suggesting that various crypto-related products may be covered by FDIC deposit insurance. Unbanked, a nonbank, maintains relationships with insured banks.Read More
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