FTC Targets Crypto Businesses Over Misleading Marketing
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The US Federal Trade Commission is probing crypto businesses to find out if they had violated law by promoting services through deceptive or misleading advertisements.

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FTC spokeswoman, Juliana Gruenwald Henderson, told Bloomberg in a commentary that the commission is investigating "several firms for possible misconduct concerning digital assets," without naming them.

The move comes as FTX's collapse affected dozens of cryptocurrency businesses in the US such as Genesis, Gemini, BlockFi (went bankrupt) and many others.

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Other companies are leaving the US due to vague regulatory framework. For instance, Nexo, a European crypto lending firm, has recently announced it would leave the US market following 18 months period of dialogue with US state and federal regulators.

Nexo noted that despite "inconsistent and changing positions" among state and federal regulators, the company tried to provide all the requested information and to adjust its business in response to their concerns.

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