U.S. regulator says crypto bank violated anti-money laundering, compliance rules (updated)
21/04/2022 22:11
(Adds details from OCC order)
WASHINGTON, April 21 (Reuters) - The Office of the
Comptroller of the Currency on Thursday said flagship crypto
bank Anchorage Digital Bank National Association violated rules
for monitoring for suspicious activity and preventing money
laundering.
The Sioux Falls, South Dakota-based firm failed to adopt a
compliance program that meets Bank Secrecy Act and anti-money
laundering requirements, OCC said in its order. Anchorage
Digital receiving a conditional bank charter from the regulator
in January 2021.
A spokesperson for Anchorage Digital, which did not admit or
deny the OCC's findings, said the firm has already begun to
strengthen and "will continue to bolster" the areas OCC
identified as deficient in 2021.
The OCC's order requires the company appoint a compliance
committee within 15 days and have that board submit a progress
report and plan for remediation to the regulator, among other
actions.
Anchorage has begun corrective action and is committed to
remediation, the order said.
(Reporting by Chris Prentice and Hannah Lang
Editing by Marguerita Choy)
((christine.prentice@thomsonreuters.com; +1 (202) 843-6464;))