**Key Insights:**
– The El Dorado Task Force of Homeland Security is scrutinizing Anchorage Digital Bank for its internal protocols.
– This inquiry follows a previous notice from the OCC regarding the bank’s anti-money laundering compliance failures.
– The investigation coincides with Anchorage announcing a crypto custody partnership with BlackRock.
The El Dorado Task Force, a specialized unit of the U.S. Department of Homeland Security dedicated to combating money laundering and financial crimes, is currently investigating Anchorage Digital Bank. A report from Barron’s suggests that this probe is centered around the bank’s internal practices and policies. Formed in 1992, the task force aims to disrupt and dismantle international money laundering organizations through proactive investigations.
Anchorage Digital Bank, recognized as the sole federally chartered digital asset bank, has attracted significant investment from major financial entities like Andreessen Horowitz and Goldman Sachs. Engineers Diogo Mónica and Nathan McCauley established the bank in 2017. Previously, the bank encountered a consent order from the U.S. Office of the Comptroller of the Currency (OCC) due to its insufficient anti-money laundering compliance program.
Recently, Anchorage Digital Bank entered into a partnership with BlackRock to provide crypto custody services. This collaboration with the world’s largest investment bank suggests a growing demand for digital assets among clients. However, it remains uncertain if the ongoing investigation has impacted this partnership.
**Tweet:**
🚨 U.S. crypto bank Anchorage Digital is under Homeland Security’s radar for its internal policies, amid its recent partnership with BlackRock for crypto custody services. #CryptoBank #DigitalAssets #RegulationInvestigation
