The U.S. Division of Homeland Safety is reportedly investigating the cryptocurrency firm Anchorage Digital Financial institution.
In keeping with a brand new Barron’s report, the federal company’s El Dorado Activity Drive, which combats cash laundering and different monetary crimes, has contacted Anchorage Digital Financial institution workers to inquire concerning the firm’s practices and insurance policies.
Barron’s cites nameless sources who’re “acquainted with the inquiry.”
The precise cause for the probe stays unclear. A spokesperson for Anchorage declined to remark, whereas representatives for Homeland Safety didn’t present a remark.
Again in 2022, Anchorage was ordered by the Workplace of the Comptroller of the Foreign money (OCC) to enhance its controls round consumer due diligence, monitoring suspicious buyer exercise and different anti-money-laundering measures.
Within the banking regulator’s consent order, the OCC stated Anchorage was in violation of the Financial institution Secrecy Act, which covers anti-money laundering necessities and reporting.
On the time, Anchorage stated it had “already been working to strengthen the areas recognized and can proceed to bolster these areas, reinforcing a brand new, digital asset customary” to fight cash laundering. Anchorage stays underneath the consent order.
Earlier this 12 months, Anchorage Digital CEO Nathan McCauley complained {that a} US financial institution basically turned off their checking account for unexplained causes after two years of working with the lender.
“Our story is fairly ridiculous… We had a financial institution that we had a rising relationship with for plenty of years, who mainly on a dime, determined to show off our checking account.”
The CEO, who didn’t point out the financial institution’s identify, stated the financial institution lower them off in June 2023, across the similar time that quite a few studies of “Choke Level 2.0” – an alleged coordinated effort by the federal government to close down the crypto business – had been operating rampant.
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