The U.S. Office of the Comptroller of the Currency (OCC) has terminated a consent order against Anchorage Digital Bank, a cryptocurrency custody bank, initially issued in 2022. The OCC's decision, announced on Thursday, August 21, 2025, signals a resolution to the regulatory action that targeted Anchorage Digital's anti-money laundering (AML) compliance program.

The original consent order, issued in April 2022, stemmed from the OCC's concerns that Anchorage Digital had not fully met the requirements for an adequate compliance program. Specifically, the OCC cited deficiencies in areas such as suspicious activity monitoring procedures, customer due diligence controls, and training protocols. At the time, Anchorage Digital neither admitted nor denied the OCC's findings. The order mandated that Anchorage Digital bolster its compliance program by establishing a compliance committee, submitting an action plan for improvements, and engaging an external consultant to identify any previously unreported suspicious account activity.

In its recent announcement, the OCC stated that it decided to drop the order “to assure the safety and soundness” of Anchorage. The agency explained that it terminates consent orders when a bank demonstrates compliance with all aspects of the enforcement action or when the agency determines that the noncompliant aspects are no longer relevant. The OCC indicated that Anchorage Digital's "compliance with laws and regulations does not require the continued existence of the order".

Anchorage Digital was the first crypto company in the U.S. to receive a national bank charter from the OCC in January 2021.

Nathan McCauley, co-founder and CEO of Anchorage, expressed his satisfaction with the OCC's decision in a recent blog post. He stated that the company had addressed and resolved the feedback received from regulators as it worked to establish standards for federally chartered custody of digital assets. McCauley emphasized that the lifting of the consent order definitively proves that cryptocurrency operations and federal oversight are not mutually exclusive and can, in fact, be mutually reinforcing.

The termination of the consent order could be interpreted as a signal of a potential shift in the U.S. government's approach to crypto enforcement and regulation. This perceived shift aligns with other recent actions, such as the Federal Reserve's decision to sunset a program specifically designed to monitor banks' digital asset activities. Furthermore, in July, the OCC, Federal Reserve, and Federal Deposit Insurance Corporation (FDIC) jointly issued a statement clarifying the risks for banks holding digital assets for clients. The OCC also rescinded requirements for banks to obtain regulatory approval for crypto-related activities. These actions are viewed as part of a broader effort to provide a clearer legal framework for digital assets in the United States.