Homeland Security Investigates Anchorage Digital Bank Practices

Anchorage Digital Bank, the first federally chartered crypto bank in the U.S., is under investigation by the Department of Homeland Security's El Dorado Task Force, which focuses on financial crimes including money laundering. The task force has reached out to former employees to gather information about the company's compliance practices, though the specifics of the investigation remain unclear. Anchorage has faced regulatory scrutiny before, notably from the Office of the Comptroller of the Currency (OCC), which flagged the bank in 2022 for failing to meet anti-money laundering requirements. CEO Nathan McCauley has previously spoken about the challenges faced by crypto firms in securing banking partnerships, which he describes as a