The first crypto bank in the US escapes special oversight after successfully complying

The OCC (Office of the Comptroller of the Currency) has just announced the termination of the special oversight order against #AnchorageDigital – the first federally chartered digital asset bank.

Previously, in 2022, the OCC imposed this order because Anchorage had not fully met anti-money laundering (AML) requirements and compliance with the Bank Secrecy Act. After completing its risk management program, Anchorage was confirmed to meet safety standards and no longer required additional oversight.

Founded in 2021 with conditional approval, Anchorage marked a milestone by becoming the first federal bank to custody digital assets. The company currently provides custody, staking, trading, and governance services for clients, including BlackRock, as the giant fund manager chose Anchorage to custody a portion of $BTC and $ETH for its spot ETF funds.

CEO Nathan McCauley shared: “We know that the path to obtaining a federal license is not easy, but it is the right long-term step to build trust and sustainability for the industry.”

This progress also paves the way for other organizations such as Circle, Ripple, and Paxos – companies that have applied for a national bank charter – in their ambition to bring crypto into a more stringent legal framework.

👉 Anchorage not only passed the difficult legal test but also laid the foundation for deeper crypto integration into the US financial system.

⚠️ This article is for informational purposes only and is not investment advice. #anhbacong