Crypto custody bank Anchorage Digital Bank seeks Fed master account
Anchorage Digital Bank has applied for a Fed master account.
The cryptocurrency custody bank applied on Aug. 28, according to the Fed’s database.
The application comes on the heels of the Office of the Comptroller of the Currency terminating a 2022 consent order against Anchorage Digital Bank tied to a past “failure to adopt and implement a compliance program” in accordance with anti-money laundering standards.
The OCC lifted the order after determining that the bank’s “compliance with laws and regulations does not require the continued existence of the order.”
“With our consent order lifted, we’ve proven definitively that crypto and federal oversight are not mutually exclusive — and can in fact be stronger working in tandem,” Anchorage co-founder and CEO Nathan McCauley wrote in a blog post.