OCC Ends 2022 Consent Order Against Anchorage Digital
The U.S. Office of the Comptroller of the Currency (OCC) has terminated the consent order it issued against crypto custody bank Anchorage Digital in 2022, saying the order is no longer required to ensure the bank’s safety and soundness.
The original April 2022 order accused Anchorage of failing to establish and implement an anti-money‑laundering (AML) compliance program that met supervisory expectations. In its termination notice, the OCC said Anchorage’s current compliance with applicable laws and regulations meant the continued existence of the order was not necessary.
Anchorage’s leadership framed the move as validation that federally chartered oversight and crypto custody can coexist. The company’s chief executive said lifting the order demonstrates that federal regulation and digital‑asset custody can work together to strengthen compliance and safety.
Anchorage was the first U.S.-based crypto firm to receive a national bank charter from the OCC in January 2021, a milestone that helped establish a federal pathway for custody of digital assets. The 2022 consent order followed the bank’s early chartering and focused on bringing its compliance program in line with supervisory expectations.
Observers have read the termination as part of a broader shift in the regulatory environment for crypto under the current administration. The development comes alongside other regulatory moves — including the Federal Reserve’s decision to wind down a supervisory program for digital-asset activities and joint regulatory guidance clarifying risks for banks that custody digital assets — and follows recent legislation creating licensing pathways for stablecoins and other digital‑asset services.
By removing the 2022 consent order, the OCC said it aims to assure Anchorage’s continued safety and soundness while recognizing the firm’s improvements to its compliance framework. The decision is likely to influence how other crypto firms pursuing federal charters or regulatory clarity approach AML and supervisory expectations going forward.
