The Office of the Comptroller of the Currency issued a conditional approval last week for Anchorage Digital Bank to become the first federally-chartered crypto bank.
Continue Reading OCC Charters the First National Crypto Bank
Carleton Goss
OCC Announces Crypto Enforcement Action
On February 20, 2020, the federal Office of the Comptroller of the Currency (OCC) announced a Bank Secrecy Act enforcement action against a federal savings bank (Bank). This is one of the first, if not the first, public enforcement actions against a bank related to banking cryptocurrency-related operations. Banks that currently provide banking services to cryptocurrency-related companies, or are considering providing banking services to such companies in the future, should carefully review this enforcement action and consider where the quality of the bank’s AML compliance program is commensurate with these high-risk customers.
Continue Reading OCC Announces Crypto Enforcement Action
National Bank Regulator Announces FinTech Charter
Recently, the federal Office of the Comptroller of the Currency announced that it is now accepting applications for national bank charters from nondepository banking institutions. Continue reading for a link to our detailed client alert on the parameters of the charter.
Continue Reading National Bank Regulator Announces FinTech Charter