How does FDIC insurance apply to digital assets in brokerage accounts?

3 answers

• May 08, 2022 · 3 years ago
  No, FDIC insurance does not cover digital assets in brokerage accounts. FDIC insurance is specifically designed to protect deposits in banks, such as checking and savings accounts. Digital assets, on the other hand, are not considered deposits and are not covered by FDIC insurance.
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• May 08, 2022 · 3 years ago
  FDIC insurance only applies to traditional banking products, such as cash deposits. Digital assets, such as cryptocurrencies, are not recognized as cash deposits and therefore do not fall under the protection of FDIC insurance.
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• May 08, 2022 · 3 years ago
  FDIC insurance does not cover digital assets in brokerage accounts. However, some brokerage firms may offer additional insurance coverage for digital assets through third-party providers. It's important to check with your brokerage firm to understand the extent of insurance coverage for your digital assets.
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