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

avatarehsan mazaherilaghabNov 29, 2021 · 3 years ago3 answers

Can digital assets in brokerage accounts be covered by FDIC insurance? How does FDIC insurance work for digital assets?

How does FDIC insurance apply to digital assets in brokerage accounts?
Digital Assets
Brokerage Accounts
FDIC Insurance

3 answers

  • avatarNov 29, 2021 · 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.
  • avatarNov 29, 2021 · 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.
  • avatarNov 29, 2021 · 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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