Anchorage Digital Bank, the first federally chartered cryptocurrency bank in the United States, has successfully exited a three-year anti-money laundering (AML) consent order imposed by the Office of the Comptroller of the Currency (OCC). Announced on August 25, 2025, this development reflects the bank’s comprehensive efforts to strengthen its compliance program and regain full regulatory trust, marking a milestone for both the institution and the wider digital asset banking sector.
The Origins of the Consent Order
In 2022, the OCC identified significant gaps in Anchorage Digital’s Bank Secrecy Act (BSA) and AML program. The regulator flagged deficiencies in key areas, including customer due diligence, transaction monitoring, and risk assessment frameworks. The consent order required Anchorage to implement a detailed corrective action plan, addressing both systemic weaknesses and operational lapses.
This regulatory intervention placed the bank under close supervision and required it to demonstrate measurable improvements before the order could be lifted.
Strategic Compliance Overhaul
Anchorage Digital responded to the OCC’s directives with a multi-pronged approach:
- Expansion and Expertise in Compliance Staff: The bank significantly grew its compliance team, hiring seasoned AML and regulatory professionals to ensure rigorous oversight across all departments.
- Comprehensive Training Programs: Employees across the organization underwent extensive training to instill a strong compliance culture, with a focus on identifying suspicious activity and adhering to BSA/AML standards.
- Technology-Driven Monitoring Enhancements: Anchorage invested in advanced transaction monitoring systems and analytics tools to detect, investigate, and report suspicious activity more efficiently and accurately.
- Policy and Procedural Revisions: Internal policies were overhauled to align with best practices in the financial services sector, creating clearer accountability structures and standardized processes for regulatory compliance.
- Independent Oversight and Audits: The bank engaged third-party consultants to review its AML program, ensuring objectivity in assessing progress and verifying improvements.
Significance for Anchorage and the Crypto Banking Sector
The lifting of the OCC consent order is more than a regulatory formality—it signals that Anchorage has successfully navigated one of the most challenging hurdles in digital asset banking. For the bank, this restores full regulatory confidence, reduces operational constraints, and reinforces its position as a pioneer in federally chartered crypto banking.
For the broader industry, Anchorage’s experience serves as a benchmark for other digital asset institutions striving to operate within U.S. regulatory frameworks. It demonstrates that, despite heightened scrutiny, robust compliance programs can be built with clear investment in personnel, technology, and process redesign.
Looking Ahead
With the consent order removed, Anchorage Digital is now better positioned to focus on growth initiatives and product expansion while maintaining a culture of regulatory excellence. As digital asset banking continues to evolve, the bank’s journey underscores the critical importance of proactive compliance management, technological innovation in monitoring systems, and a strong organizational commitment to meeting regulatory expectations.
Anchorage’s success story may serve as a blueprint for other financial institutions in the crypto space seeking to demonstrate credibility, operational resilience, and long-term sustainability in a heavily regulated environment.
