Anchorage Digital has been freed from a regulatory order by its U.S. banking regulator, which had required the institution to establish a compliance program aimed at preventing money laundering abuses. The Office of the Comptroller of the Currency (OCC) has lifted the cease-and-desist order initially imposed in 2022.
In a statement announcing the termination, the OCC expressed confidence in the bank's ability to maintain safety, soundness, and regulatory compliance. Anchorage Digital's CEO, Nathan McCauley, viewed the regulatory action as constructive feedback and celebrated its resolution, stating that the company has set the standard for federally chartered custody of digital assets and is 'the world's most regulated digital asset bank.' The move comes as U.S. banking regulators, under new leadership, seek to ease restrictions on cryptocurrency businesses.
Notably, Anchorage Digital was the first cryptocurrency bank to receive a full banking charter, paving the way for other digital asset issuers, such as Circle, Ripple, and Paxos, to apply for similar charters.