For the , brand new OCC granted Anchorage conditional acceptance to have a nationwide believe financial charter
Work of Comptroller of your own Currency registered towards an effective Agree Order having Anchorage Digital Lender (“Anchorage”), which requires Anchorage to make a compliance committee or take tips to remediate so-called flaws with respect to the execution and you may functionality of Anchorage’s Lender Secrecy Work/Anti-Currency Laundering (“BSA/AML”) system. Significantly, Anchorage will pay zero civil penalty.
Anchorage isn’t any typical organization monitored of the OCC: it is a beneficial cryptocurrency caretaker. While we often explore, new timing of your own Agree Acquisition demonstrates that no matter if bodies allow crypto issues from the loan providers, it continue to be careful, including concerning BSA/AML conformity. New OCC’s strategies post a clear content that controlled organizations giving emerging technology economic services need certainly to follow the same BSA/AML keeping track of and revealing criteria much more typically managed entities.
The fresh new Working Contract
The latest preliminary recognition got requirements, along with you to definitely Anchorage get into a functional Contract into OCC. …