While the full scope of the investigation remains unclear, the El Dorado Task Force has reportedly reached out to former Anchorage employees to inquire about internal compliance practices. The unit focuses on dismantling global money laundering networks.

Regulatory History Raises Questions

Back in April 2022, the OCC issued a consent order against Anchorage over weak customer due diligence and anti-money-laundering (AML) controls. Anchorage responded by pledging to improve its compliance efforts and continues to operate under that consent order.

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The probe comes at a time when Anchorage is actively marketing its regulated status to lawmakers. CEO Nathan McCauley recently attended a Digital Asset Summit at the White House and has positioned himself as a vocal critic of “debanking.” His close ties with the Trump camp — including public appearances with White House crypto advisers — have raised eyebrows among regulators.

Strategic Board Appointments to Navigate Compliance!

To help manage increasing scrutiny, Anchorage has added former regulators and bankers to its board. Notable additions include Connie Shoemaker (formerly of Goldman Sachs) and Julie Williams (former OCC general counsel). Former SEC crypto investigator TuongVy Le recently stepped back from her role as general counsel.

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