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Financial Institution Letter | July 29, 2022 |
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Advisory to FDIC-Insured Institutions Regarding Deposit Insurance and Dealings with Crypto Companies |
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Summary:
To address certain misrepresentations about FDIC deposit insurance by some crypto companies, the FDIC is issuing an Advisory to FDIC-insured institutions Regarding Deposit Insurance and Dealings with Crypto Companies (FDIC Crypto Advisory). Additionally, a Fact Sheet on What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies (Deposit Insurance Fact Sheet) has been posted to the FDIC’s website to provide additional information about deposit insurance coverage.
A copy of the Advisory and Fact Sheet can be found on the FDIC’s website.
Statement of Applicability:
The contents of, and material referenced in, this FIL apply to all FDIC-insured financial institutions.
Distribution:
FDIC-Insured Financial Institutions
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