The U.S. Division of Homeland Safety is reportedly investigating the cryptocurrency firm Anchorage Digital Financial institution.
Based on 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 staff to inquire in regards to the firm’s practices and insurance policies.
Barron’s cites nameless sources who’re “acquainted with the inquiry.”
The precise motive 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 Forex (OCC) to enhance its controls round shopper due diligence, monitoring suspicious buyer exercise and different anti-money-laundering measures.
Within the banking regulator’s consent order, the OCC mentioned Anchorage was in violation of the Financial institution Secrecy Act, which covers anti-money laundering necessities and reporting.
On the time, Anchorage mentioned 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 beneath the consent order.
Earlier this yr, Anchorage Digital CEO Nathan McCauley complained {that a} US financial institution primarily 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 various 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, mentioned the financial institution reduce them off in June 2023, across the identical time that quite a few reviews of “Choke Level 2.0” – an alleged coordinated effort by the federal government to close down the crypto business – have been operating rampant.
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