Crypto Bank Under the Microscope: What Secrets Are They Hiding? 🕵️‍♂️💰

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They say the El Dorado Task Force, a sharp-edged crew from the Department of Homeland Security, is poking around Anchorage Digital like a hound sniffing out a rabbit hole. These folks specialize in tearing down the tangled webs of money laundering that stretch across borders like stubborn vines. Word on the street is they’ve been chatting up former Anchorage employees, trying to unravel the company’s secrets about how they keep—or fail to keep—financial crime at bay. But just what they’re after, well, that’s still wrapped in a fog thicker than a California morning.

When Barron’s came knocking, both Anchorage and the DHS clammed up tighter than a barn door in a storm.

Leadership Shuffle: The General Counsel Takes a Step Back

Meanwhile, in the midst of all this, TuongVy Le, the sharp-minded General Counsel at Anchorage, has quietly slipped into an advisory role, apparently weighing her next move like a gambler eyeing the cards. Maybe she’s just tired of the spotlight, or maybe she’s got bigger fish to fry elsewhere.

This isn’t Anchorage’s first rodeo with the regulators. Back in 2022, the Office of the Comptroller of the Currency slapped them with a cease-and-desist order, citing some sloppy work on their know-your-customer and anti-money laundering checks. Seems like the bank’s compliance game has been a bit like a leaky bucket—no matter how much water you pour in, it just keeps dripping out.

Anchorage, the pioneer federally chartered digital asset bank in the U.S., has long fancied itself the sheriff in town when it comes to crypto custody. But with this fresh round of scrutiny, it might be time for them to tighten their reins or risk getting bucked off the compliance horse.

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2025-04-14 20:56