OCC Lifts 2022 Consent Order Against Anchorage Digital Over AML Compliance

The U.S. Office of the Comptroller of the Currency (OCC) has officially terminated a 2022 consent order against Anchorage Digital Bank, marking a significant development in the ongoing regulatory evolution of the cryptocurrency sector [1]. The enforcement action, first imposed in April 2022, required the bank to strengthen its anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance programs [2]. The OCC cited Anchorage’s improved compliance and the “safety and soundness of the bank” as reasons for the termination [3].

The resolution of the order removes a key regulatory constraint on Anchorage Digital, which was the first crypto-native institution to receive a federal bank charter in 2021 [4]. The decision is viewed as a milestone by the company, with CEO Nathan McCauley calling it a “key milestone for the industry” and emphasizing that it proves crypto and federal oversight are not mutually exclusive [5]. The termination reinforces the bank’s commitment to compliance while setting a precedent for how federally chartered institutions can responsibly engage with digital assets.

The 2022 order was initiated after the OCC found Anchorage Digital had failed to maintain adequate compliance controls [6]. Acting Comptroller at the time, Michael Hsu, emphasized that all nationally chartered banks—regardless of whether they operate in traditional or emerging financial sectors—must meet the same compliance standards [7]. The bank did not admit or deny the findings but acknowledged it had been actively working to strengthen its compliance framework [8].

This outcome reflects a broader shift in U.S. regulatory attitudes toward digital assets. The OCC, under the Trump administration, has adopted a more accommodating stance, recognizing crypto as a “transformation” rather than a transient trend [9]. Acting Comptroller Rodney Hood has stated that federally chartered banks can responsibly engage in certain crypto activities, such as custody and trading, provided they implement proper oversight and risk management [10]. The Federal Reserve and FDIC have also relaxed their stances, removing prior approval requirements for state banks and clarifying that participation in the digital asset sector does not require upfront agency consent [11].

The termination of the consent order is a clear signal to the crypto industry that proactive compliance and transparency can lead to regulatory resolution. While the decision does not remove Anchorage’s ongoing obligations, it offers the company greater operational flexibility and reinforces its position as a leader in crypto banking [12]. The outcome may also serve as a model for other crypto-native firms navigating similar regulatory challenges, demonstrating the importance of engaging constructively with regulators.

Sources:

[1] Cointelegraph (https://cointelegraph.com/news/occ-consent-order-anchorage-digital-aml)

[2] American Banker (https://www.americanbanker.com/news/occ-terminates-consent-order-against-anchorage-digital)

[3] Yahoo Finance (https://finance.yahoo.com/news/occ-cites-safety-soundness-crypto-224043216.html)

[4] PYMNTS.com (https://www.pymnts.com/cryptocurrency/2025/occ-lifts-consent-order-against-crypto-focused-anchorage-digital-bank/)

[5] CoinMarketCap (https://coinmarketcap.com/community/articles/68a81ff53fa6d14fe03f00b7/)

[8] CoinCentral (https://coincentral.com/anchorage-digital-wins-relief-occ-lifts-2022-compliance-order/)

[9] TradingView (https://www.tradingview.com/news/cointelegraph:c77e57d2f094b:0-us-occ-terminates-2022-order-targeting-anchorage-digital-over-aml/)

[11] Binance (https://www.binance.com/en/square/post/28639449962153)

[12] Crypto News (https://crypto.news/occ-terminates-2022-consent-order-against-anchorage-digital/)