{"id":435511,"date":"2022-04-22T03:22:04","date_gmt":"2022-04-22T00:22:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/occ-issues-order-against-anchorage-digital-over-aml-compliance\/"},"modified":"2022-04-22T03:22:04","modified_gmt":"2022-04-22T00:22:04","slug":"occ-issues-order-against-anchorage-digital-over-aml-compliance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/occ-issues-order-against-anchorage-digital-over-aml-compliance\/","title":{"rendered":"# OCC issues order against Anchorage Digital over AML compliance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25839673b44\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25839673b44\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/occ-issues-order-against-anchorage-digital-over-aml-compliance\/#%E2%80%9D_OCC_issues_order_against_Anchorage_Digital_over_AML_compliance_%E2%80%9C\" >&#8221; OCC issues order against Anchorage Digital over AML compliance  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_OCC_issues_order_against_Anchorage_Digital_over_AML_compliance_%E2%80%9C\"><\/span>&#8221; OCC issues order against Anchorage Digital over AML compliance  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvOTZiOTRhMGMtYTk0Yy00YTJkLWI1MmItNGM1MzJiZjBhMjc2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The United States Office of the Comptroller of the Currency, or OCC, has said it intends to pursue cease and desist proceedings against cryptocurrency custody bank Anchorage Digital for violating certain anti-money laundering requirements.<\/p>\n<p>In a Thursday announcement, the OCC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.occ.gov\/news-issuances\/news-releases\/2022\/nr-occ-2022-41.html\">said<\/a> it issued a consent order against Anchorage Digital based on its \u201cfailure to adopt and implement a compliance program\u201d in accordance with required Bank Secrecy Act, or BSA, and AML standards. The government bureau <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.occ.gov\/static\/enforcement-actions\/ea2022-010.pdf\">said<\/a> such actions placed Anchorage Digital in violation of its operating agreement with the OCC, established in January 2021. <\/p>\n<p>\u201cThe OCC holds all nationally chartered banks to the same high standards, whether they engage in traditional or novel activities,\u201d said Michael Hsu, acting comptroller of the currency. \u201cWhen institutions fall short, we will take action and hold them accountable to ensure compliance with federal laws and regulations.\u201d<\/p>\n<p>Anchorage neither admits nor denies the comptroller\u2019s findings, but the order reported the bank has \u201cbegun corrective action and is committed to taking all necessary and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriate steps to remedy the deficiencies.\u201d A consent order, by definition, implies two parties \u2014 in this case, Anchorage and the OCC \u2014 have reached an agreement in principle on moving forward.<\/p>\n<p>In a statement to Cointelegraph, Anchorage Digital said it had \u201calready been working to strengthen the areas identified [by the OCC] and will continue to bolster these areas, reinforcing a new, digital asset standard for internal BSA\/AML controls and procedures.\u201d The bank hinted that the OCC\u2019s actions might help establish a regulatory precedent that could encourage other firms in the space to set up federally regulated digital asset banks.<\/p>\n<p>According to the OCC, there is a 15-day deadline to establish a committee for \u201cspecific corrective actions\u201d to ensure the bank is in compliance with the AML and BSA requirements, and issue progress reports on the plan as it is executed. In addition, the government bureau ordered Anchorage make a BSA officer available to ensure compliance.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>OCC Comptroller calls for federal collaboration with crypto inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries<\/em><\/strong><\/p>\n<p>Anchorage was the first crypto firm in the United States to receive a national bank charter from the OCC in January 2021. Since his departure from the government bureau, former Acting Comptroller of the Currency Brian Brooks was briefly the CEO of Binance.US and now the CEO of crypto mining firm Bitfury.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/occ-issues-order-against-anchorage-digital-over-aml-compliance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; OCC issues order against Anchorage Digital over AML compliance &#8220; The United States Office of the Comptroller of the Currency, or OCC, has said it intends to pursue cease and desist proceedings against cryptocurrency custody bank Anchorage Digital for violating certain anti-money laundering requirements. In a Thursday announcement, the OCC said it issued a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":435512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvOTZiOTRhMGMtYTk0Yy00YTJkLWI1MmItNGM1MzJiZjBhMjc2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74859,71939,55229,33897,70934,67874],"class_list":["post-435511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-aml","tag-banks","tag-law","tag-money-laundering","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=435511"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/435512"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=435511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=435511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=435511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}