OCC quotes ‘safety and reliability’ for crypto -bank -anchor location when drawing permission assignment

The office of the Comptroller of Currency (OCC) announced on Thursday that it has terminated its termination and graduated consent warrant against Anchorage Digital.

The regulator first a permit order issued to anchorA federally chartered digital asset bench, in 2022 because of its “failure to adopt and implement a compliance program” that satisfactorily covered the Bank Secrecy Act and anti-money laundering (AML).

“The OCC is of the opinion that the safety and reliability of the bank and its compliance with laws and regulations do not require the survival of the order,” the Reading order order.

Anchorage Digital received conditional approval from the OCC in 2021, so that the crypto guardianship services could offer its customers and it is the first federally chartered bank for digital assets. After demonstrating the correct compliance, the permission warrant has now been terminated.

“When we register that Charter, we knew what we signed up for: the path Voorwaart was unknown to every crypto company, and at the time, many in our branch and most of Washington brachten digital assets and regulations such as oil and water,” said Anchorage co-founder and CEO Nathan McCaamy in a statement.

“We started that path, not because it was easy, but because we knew it was the right long-term movement for the industry-the basis for trust, safety and sustainability in the coming years,” he added. “And in an industry that is planning to ‘go to the moon’, the apparent impossibility of our federal charter mission relieved a fire among us from the start.”

The company based in South Dakota specializes in custody, commitment, trade and administration for its members. In April, BlackRock opted for Anchorage to save part of the Bitcoin and Ethereum for the leading spot ETFs of the asset manager.

In May, the OCC confirmed that national banks are supervising Can buy, sell and manage all crypto assets in their detention. Since that time, Stablecoin emitting circle as well as Ripple and Paxos have applied for charters who would make them nationally regulated banks.