The FDIC said the last significant update of its sign and ad rules was in 2006, but it needed to address concerns including “misrepresentations of deposit insurance coverage.”
The Federal Deposit Insurance Corporation (FDIC) of the United States adopted a rule governing the use of its official signs and advertising in a move that could affect the public perception of certain crypto firms.
In a Dec. 20 announcement, the FDIC said its board of directors had finalized regulations clarifying “false advertising, misrepresentations of deposit insurance coverage, and misuse of the FDIC’s name or logo.” Rather than its gold and black sign introduced in the 1930s, institutions insured by the FDIC will be required to display a black and navy blue sign on all websites and apps, brick-and-mortar bank locations and certain ATMs starting in 2025.
According to the FDIC, the last significant update of its sign and advertising rules was in 2006. The government corporation clarified that the updated rule aimed to address entities potentially misleading customers that their funds were FDIC-insured.
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Source: https://cointelegraph.com/news/fdic-official-signs-ads-crypto-firms