Breaking News: Anchorage Digital Wins the Crypto Compliance Game! 🎉💰

So, guess what? The US Office of the Comptroller of the Currency (OCC) has decided it’s a good day to end their “naughty list” streak against Anchorage Digital, the cryptocurrency custody bank that might just hold your digital futures. 🙌✨

In a thrilling plot twist that everyone saw coming, the OCC announced on Thursday that they’ve terminated the consent order they issued back in 2022, which was about as popular as a sunburn at the beach. Why? Oh, just to ensure “the safety and soundness” of Anchorage. Because nothing says safety like a bank that’s just been re-evaluated for its “failure to comply” with those pesky Anti-Money Laundering (AML) standards. But don’t worry! The OCC has decided the bank’s compliance is now A-OK – no order necessary! 🎉

“We received-and have now resolved-feedback from regulators as we set the standard for federally-chartered custody of digital assets,” chirped Nathan McCauley, Anchorage’s co-founder and CEO, in a Thursday blog post. He further added,

“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.”

Well, that’s lovely, Nathan! Let’s throw a confetti party! 🎊

Fun fact: Anchorage was the first US-based crypto company to snag a national bank charter from the OCC back in January 2021, right when former President Joe Biden was busy trying to figure out what a TikTok was. 💻 Before that, during President Donald Trump’s reign of golf and tweets, they confirmed their new captain, Jonathan Gould, the former chief legal officer of Bitfury. Wonder if he played any golf? ⛳️

Is politics playing a role in regulating crypto companies?

So, in this dramatic saga, the termination of the consent order signals a sunlight peek through the clouds of crypto regulation that used to loom ominously over the industry, primarily during the Trump administration. No one’s counting, but it feels like things might be getting a little softer.

The Federal Reserve even announced in August that they’d be sending their monitoring program for banks’ digital asset activities into early retirement. Round of applause, please! 👏 And let’s not forget the OCC, Federal Reserve, and Federal Deposit Insurance Corporation’s joint statement, which clarified the risks of banks playing with digital assets. They’re basically like, “Hey guys, let’s keep it safe. No wild parties!” 🎈

And other crypto companies-like Paxos, Ripple Labs, and Circle-are also lining up like eager puppies outside the OCC’s door, hoping to get those national trust bank charters. Under the shiny GENIUS Act (yes, that’s a real thing), which regulates payment stablecoins, there’s now a pathway for crypto to be licensed and get those golden tickets. So hold onto your wallets, everyone; things are getting serious! 💳💥

2025-08-21 23:56

Is politics playing a role in regulating crypto companies?

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