OKCoin has been accused by the US Federal Deposit Insurance Corporation (FDIC) of deceiving its US customers by claiming that non-deposit accounts are insured.
Janet Yellen, United States Secretary of the Treasury, emphasized the need for increased regulation of nonbank entities, citing their potential to pose a systemic risk to the financial stability of the US.
CEO Jeremy Allaire of Circle – the company behind stablecoin USDC – gave the latest announcement about USDC’s volatility and solution for the recent crisis.