US OCC Lifts AML Enforcement Order on Anchorage Digital
The Office of the Comptroller of the Currency (OCC) has officially terminated a 2022 consent order against Anchorage Digital, a federally chartered cryptocurrency bank. This significant decision, announced by the financial regulator, signifies that Anchorage Digital has achieved the necessary compliance with laws and regulations, rendering the continued existence of the enforcement action unnecessary.
Regulatory Milestone for Digital Asset Banking
The original enforcement order, issued in April 2022, mandated Anchorage Digital to address deficiencies in its anti-money laundering (AML) program, risk management practices, and overall compliance with the Bank Secrecy Act (BSA). These measures are crucial for financial institutions to prevent illicit financial activities and ensure operational integrity. The OCC's termination of the order implies that Anchorage Digital has successfully remediated these identified issues, bolstering its regulatory framework and operational controls.
As the first federally chartered crypto bank, Anchorage Digital operates under heightened scrutiny, making this regulatory clearance a notable achievement. It underscores the bank's progress in establishing robust compliance infrastructure essential for bridging traditional finance with the nascent digital asset economy. The OCC's statement directly affirms that the bank's current compliance status no longer warrants the previous regulatory oversight.