The agency cited three examples of “false and misleading representations,” including a mention on its website that the Provenance Blockchain’s HASH token on OKCoin had “received broad regulatory acceptance from the SEC, OCC, FED, and the FDIC” and a 2020 posting to the company’s website, where it advertised itself as “Licensed across the US with FDIC insurance on OKCoin accounts.” It also cited a company official’s Twitter post that “if you are in the US we offer FDIC insurance on USD deposits.”
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- Source: https://www.coindesk.com/policy/2023/06/16/okcoin-accused-by-fdic-of-making-false-claims-about-customer-protections/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
