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.”
Related posts
-
Built On An $6 Million NFT Scam? AI Company Accused Of Fraud
Youtuber and Internet investigator Coffeezilla has called out Artificial Intelligence (AI) company Rabbit for allegedly being... -
Genesis Set to Return $3B Customer Assets in Finalized Bankruptcy Liquidation Plan
Bankruptcy claims began trading at 35% of account balance value when they were initially listed on... -
Protocol Village: Lita Releases 'Valida ZkEVM,' Claims Speed, Efficiency Advantages
The latest in blockchain tech upgrades, funding announcements and deals. For the period of May 16-22....