By Nermeen Nabil Khear 
The U.S. Department of Homeland Security is reportedly investigating the cryptocurrency company Anchorage Digital Bank.
According to a new Barron’s report, the federal agency’s El Dorado Task Force, which combats money laundering and other financial crimes, has contacted Anchorage Digital Bank employees to inquire about the company’s practices and policies.
Barron’s cites anonymous sources who are “familiar with the inquiry.”
The specific reason for the probe remains unclear. A spokesperson for Anchorage declined to comment, while representatives for Homeland Security didn’t provide a comment.
Back in 2022, Anchorage was ordered by the Office of the Comptroller of the Currency (OCC) to improve its controls around client due diligence, monitoring suspicious customer activity and other anti-money-laundering measures.
In the banking regulator’s consent order, the OCC said Anchorage was in violation of the Bank Secrecy Act, which covers anti-money laundering requirements and reporting.
At the time, Anchorage said it had “already been working to strengthen the areas identified and will continue to bolster these areas, reinforcing a new, digital asset standard” to combat money laundering. Anchorage remains under the consent order.
Earlier this year, Anchorage Digital CEO Nathan McCauley complained that a US bank essentially turned off their bank account for unexplained reasons after two years of working with the lender.
“Our story is pretty ridiculous… We had a bank that we had a growing relationship with for a number of years, who basically on a dime, decided to turn off our bank account.”
The CEO, who didn’t mention the bank’s name, said the bank cut them off in June 2023, around the same time that numerous reports of “Choke Point 2.0” – an alleged coordinated effort by the government to shut down the crypto industry – were running rampant.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post U.S. Homeland Security Initiates Probe Into Crypto Bank Anchorage Digital: Report appeared first on The Daily Hodl.
The U.S. Department of Homeland Security is reportedly investigating the cryptocurrency company Anchorage Digital Bank. According to a new Barron’s report, the federal agency’s El Dorado Task Force, which combats money laundering and other financial crimes, has contacted Anchorage Digital Bank employees to inquire about the company’s practices and policies. Barron’s cites anonymous sources who
The post U.S. Homeland Security Initiates Probe Into Crypto Bank Anchorage Digital: Report appeared first on The Daily Hodl. Regulators, anchorage digital bank, Crypto, News, us department of homeland security
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.