OCC Drops 2022 Consent Order Against Anchorage Digital Over AML Concerns

TLDR

Table of Contents

The OCC terminates Anchorage Digital’s 2022 consent order regarding AML compliance.
Anchorage Digital is the first federally chartered U.S. crypto bank.
The OCC has shifted its stance on crypto enforcement under the Trump administration.
Anchorage Digital’s CEO highlights the bank’s progress in meeting regulatory standards.

The U.S. Office of the Comptroller of the Currency (OCC) has officially ended the 2022 consent order placed against Anchorage Digital. The order, issued in April 2022, was based on concerns regarding Anchorage’s anti-money laundering (AML) compliance program. However, after a comprehensive review, the OCC determined that Anchorage’s adherence to regulations no longer requires the continuation of the order.

In a statement released on August 21, 2025, the OCC confirmed that the bank’s compliance with laws and regulations has improved sufficiently to lift the previous restrictions. Nathan McCauley, the CEO of Anchorage Digital, expressed his satisfaction with the decision, noting that it demonstrates that crypto businesses can successfully work within a federal regulatory framework.

Improvement in AML Compliance and Regulatory Engagement

Anchorage Digital, which became the first U.S. federally chartered cryptocurrency bank in January 2021, has worked closely with regulators to resolve the concerns outlined in the original consent order.

McCauley emphasized that the bank has invested substantial resources into developing a robust compliance program, positioning itself as a leader in the regulatory space for digital assets.

“We’ve built what has become the world’s most regulated digital asset bank,” said McCauley, underlining the company’s commitment to setting high standards for crypto compliance. He also mentioned that the bank has addressed feedback from regulators, which further solidifies its position as a model for federally-chartered crypto custody.

Shift in Crypto Regulatory Landscape

The termination of the consent order marks a shift in the regulatory stance toward cryptocurrency businesses under the Trump administration. Over the past year, federal regulators, including the OCC, have softened their approach to crypto enforcement, signaling a more collaborative and supportive environment for crypto companies.

The Federal Reserve, in a similar move, recently withdrew guidance that previously discouraged banks from engaging with digital assets.

Alongside the OCC’s actions, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve also released a joint statement clarifying how existing banking regulations apply to institutions holding crypto assets for clients. These changes reflect a broader trend of federal agencies becoming more accommodating to the growing digital asset sector.

Growth of Crypto Companies Seeking National Bank Charters

Anchorage Digital is not alone in seeking to integrate more fully into the traditional financial system. Other cryptocurrency companies, including Paxos, BitGo, Ripple, and Circle, have also applied for national trust bank charters from the OCC.

This trend indicates a growing interest in obtaining federal recognition and regulatory oversight, which can provide more legitimacy and trust to businesses operating in the crypto space.

McCauley welcomed the competition, noting that Anchorage Digital is not trying to dominate the industry alone. “No one bank can go at it alone,” he stated, highlighting the importance of collaboration within the crypto ecosystem. As more crypto companies seek to operate under a federally recognized framework, it is clear that the regulatory landscape for digital assets is evolving.

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