The U.S. Office of the Comptroller of the Currency rescinds Anchorage Digital's AML order, releasing new signals for crypto regulation.

The Office of the Comptroller of the Currency (OCC) announced that it has officially terminated the Anti-Money Laundering (AML) consent order issued in 2022 against the cryptocurrency custody bank Anchorage Digital. This move not only signifies that Anchorage has completed regulatory remediation but is also seen as an important shift in the United States' regulatory stance on crypto banking.

OCC officially revoked the consent order of 2022

OCC stated in the announcement on August 22 that the revocation order was to "ensure the safety and soundness of Anchorage Bank," and pointed out that the bank no longer needed the order to ensure compliance with relevant laws and regulations.

This consent order was initially issued in April 2022 due to Anchorage's failure to develop and implement a compliance program according to AML standards. Now, the OCC believes that the bank has completed the necessary rectifications and is capable of compliant operations.

Anchorage Digital: Crypto Assets and Regulation Can Coexist

Nathan McCauley, co-founder and CEO of Anchorage, responded in the official blog that the company has made improvements based on feedback from regulators during the process of establishing federal charter standards for digital asset custody.

He emphasized: "The proof of the agreement's termination shows that encryption and federal regulation do not conflict; instead, they can promote each other and play a greater role."

Anchorage is the first crypto company in the United States to receive a national bank charter issued by the OCC, which was approved in January 2021, marking a milestone in its path to compliance.

Regulatory Background and Political Factors

This cancellation order is seen by some observers as a "softening of the United States' stance on crypto regulation."

Recently, the Federal Reserve announced the termination of its plan to specifically monitor banks' digital asset activities; the OCC, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) also clarified the risks of banks holding digital assets for customers in a joint statement in July.

It is worth noting that Anchorage's banking license approval spans both the Biden and Trump administrations, demonstrating the influence of political factors on crypto regulation.

Insights for the Crypto Industry

The case of Anchorage provides a reference for other crypto companies applying for OCC national trust bank licenses (such as Paxos, Ripple Labs, Circle).

According to the "GENIUS Act" (Stablecoin Regulatory Act) that took effect in July, the OCC will provide a clearer licensing application pathway for crypto companies in conjunction with qualifying state regulators.

This means that more regulated crypto banks and custodians may enter the market in the future, driving the deep integration of digital assets and traditional finance.

Conclusion

The OCC's revocation of the AML order against Anchorage Digital not only affirms the bank's rectification results but also signals the gradual maturation of the U.S. crypto regulatory environment. As the policy framework becomes increasingly clear, compliant crypto institutions are expected to play a more important role in the U.S. financial system. For more crypto regulations and market dynamics, please follow the official Gate platform.