Anchorage Digital Bank, one of the major crypto-native banks in the U.S., is facing another law enforcement action from the Department of Homeland Security (DHS) after the authority launched an investigation into the matter.
Homeland Security Targets Anchorage Digital
According to the latest report, the agency’s El Dorado Task Force has reached out to former Anchorage employees as part of a fact-finding inquiry into the bank’s internal policies and compliance practices. This task force is a special unit dedicated to disrupting financial crimes and transnational money laundering.
*CRYPTO BANK ANCHORAGE PROBED BY US HOMELAND SECURITY: BARRON’S
A group within the U.S. Department of Homeland Security that combats money laundering and other financial crimes has launched an inquiry into cryptocurrency company Anchorage Digital Bank, a Wall Street-backed…
— *Walter Bloomberg (@DeItaone) April 14, 2025
While the details of the investigation are still unclear, the latest action shows fresh regulatory focus on cryptocurrency ventures under President Donald Trump’s administration, which is known for its pro-crypto stance.
However, it is not the first time that Anchorage Digital Bank has fallen into legal trouble. It has been under a regulatory microscope before. In 2022, it was hit with a cease-and-desist order from the Office of the Comptroller of the Currency (OCC) for insufficient adherence to anti-money laundering and Know Your Customer (KYC) standards.
The latest probe comes at a politically sensitive moment. CEO Nathan McCauely has maintained strong ties in Washington. It attended a White House crypto summit in March hosted by then-President Donald Trump. McCauley has also testified before Congress on the issue of “debanking”.
McCauley found a surprising ally in Senator Elizabeth Warren during a February hearing. “I don’t think for a second that you should be locked out of our banking system,” Warren told him.
Despite regulatory headwinds, Anchorage continues to attract institutional interest. It was recently selected by Cantor Fitzgerald and BlackRock to provide digital asset custody services.
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