Federal regulators have ordered cryptocurrency brokerage Voyager Digital to stop telling customers that their deposits are protected from losses by the Federal Deposit Insurance Corporation because that's not true, according to letters from regulators sent this week.
Voyager has mentioned its federally insured status on its website, mobile app and social media accounts.
"Your USD is held by our banking partner, Metropolitan Commercial Bank, which is FDIC insured, so the cash you hold with Voyager is protected," Voyager's website said Friday, claiming deposits are "FDIC insured on USD $250,000."
But those claims "are false and misleading," officials from the FDIC and the Federal Reserve said in a letter to Voyager Thursday. The officials demanded that the company scrub those claims from its website and social media, and give written confirmation by Monday that they've done so.
Voyager claimed on its website Friday that deposits were FDIC insured and protected against losses....
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...