Anchorage Digital Wins Relief: OCC Lifts 2022 Compliance Order

TLDR

• Anchorage Digital regains full federal standing as OCC lifts 2022 compliance order.

• OCC clears Anchorage Digital, ending scrutiny of AML and KYC controls.

• Anchorage Digital restored as nation’s only federally chartered crypto bank.

• Compliance overhaul pays off: Anchorage Digital exits OCC enforcement.

• OCC shift boosts crypto banks as Anchorage Digital reclaims regulatory footing.

Anchorage Digital has exited federal scrutiny after the Office of the Comptroller of the Currency (OCC) officially terminated a 2022 compliance order. The order initially targeted the crypto bank’s anti-money laundering and know-your-customer programs. The OCC declared that Anchorage Digital no longer needs the directive to ensure legal compliance and operational soundness.

The agency determined that Anchorage Digital now satisfies the necessary standards for risk and compliance controls. This move follows consistent improvements in the firm’s compliance systems and regulatory posture. Consequently, Anchorage Digital has regained full standing as a federally chartered digital asset bank.

Anchorage Digital previously made history by securing the first national banking charter for a crypto company. That milestone positioned it under direct supervision by the OCC, which regulates national banks in the U.S. However, in 2022, regulators issued a consent order requiring the firm to improve its anti-money laundering safeguards.

Regulators Shift Tone Toward Crypto Banking Frameworks

The recent termination signals a broader change in regulatory tone following leadership changes at the OCC. Under the new OCC head, Jonathan Gould, the agency has softened its position on digital asset institutions. The Federal Reserve has also withdrawn restrictive guidance that discouraged banks from working with crypto firms.

Anchorage Digital is now the only fully regulated national crypto bank operating under a federal charter. In recent months, other firms like Circle, Paxos, BitGo, and Ripple have re-engaged the OCC with similar applications. The policy shift reflects renewed openness toward digital finance under the current administration.

Although Anchorage Digital’s compliance practices faced criticism, the company responded by heavily investing in internal controls. These efforts included expanding compliance teams, enhancing technology systems, and adjusting protocols to meet regulatory expectations. As a result, the OCC acknowledged that the consent order no longer serves a regulatory purpose.

Anchorage Digital Positions for Growth After Regulatory Clearance

Anchorage Digital’s leadership framed the termination as validation of its strategy and operational upgrades. The company emphasized that ongoing engagement with regulators has strengthened its long-term institutional credibility. With this development, Anchorage Digital aims to expand its custody and infrastructure offerings across institutional clients.

CEO Nathan McCauley described the resolution as the outcome of years of refinement and collaboration with regulatory authorities. He credited Anchorage Digital’s early commitment to federal oversight as a competitive advantage. The firm now claims a nearly five-year lead in regulatory experience compared to newer market entrants.

Anchorage Digital will benefit from increasing interest in digital asset custody among financial institutions. With the OCC order lifted, the company is free to pursue further innovation without the shadow of regulatory enforcement. This milestone reinforces Anchorage Digital’s role as a cornerstone in the evolving digital finance landscape.

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