Breaking! OCC Revokes Anchorag Digital's Anti-Money Laundering Regulatory Order, Furthering Cryptocurrency Compliance
On August 22, the Office of the Comptroller of the Currency (OCC) officially announced the revocation of the anti-money laundering (AML) regulatory order against cryptocurrency custodian Anchorag Digital.
This move marks a significant shift for cryptocurrency financial institutions from 'compliance rectification' to 'regulatory recognition,' sending a strong signal to the industry.
1. Core Event: From 'Regulatory Rectification' to 'Compliance Clearance'
In April 2022, the OCC issued a regulatory order against Anchorag for failing to establish a compliance plan in accordance with AML standards. After more than two years, the OCC confirmed that the bank has 'complied with laws and regulations' and revoked the regulatory measures.
This is not merely a 'regulatory loosening,' but rather a landmark event for cryptocurrency financial institutions through compliance acceptance:
Cryptocurrency custodial banks directly connect to the traditional financial system, and their compliance is a key threshold for 'cryptocurrency assets to enter the mainstream';
The OCC, as one of the strictest financial regulatory agencies in the U.S., revoking the regulatory order is equivalent to providing compliance endorsement for Anchorag.
2. Threefold Impact on the Cryptocurrency Market
1. Acceleration of the Compliance Process
The case of Anchorag demonstrates that cryptocurrency institutions can meet traditional financial regulatory requirements through rectification. Following this, financial institutions involved in cryptocurrency business, such as Coinbase and Silvergate, are expected to follow this path to advance compliance and reduce overall regulatory risks in the industry.
2. Increased Expectations for Institutional Capital Entry
Custodial banks are a 'safe channel' for institutional capital — a compliant Anchorag can more smoothly provide cryptocurrency asset custody services to institutional clients. The 'last mile' for institutional capital entry has been opened, potentially leading to long-term buying support for assets like BTC and ETH.
3. Clear Regulatory Attitude: Compliance Ensures Survival
The OCC's actions send a clear signal: regulation does not aim to 'kill' the cryptocurrency industry, but rather to filter out 'rule-abiding' players. Non-compliant small platforms will accelerate their exit, and compliant leading institutions are likely to expand their market share.
The revocation of this regulatory order essentially represents a 'reconciliation milestone' between cryptocurrency finance and the traditional regulatory system. For ordinary investors, the deeper the industry compliance, the higher the 'security' of holding quality assets in the long term — after all, a market that institutional capital dares to enter is the true 'value investment arena.'
