U.S. Department Probes Crypto Bank Anchorage Digital
The U.S. Department of Homeland Security (DHS) has initiated a probe into Anchorage Digital Bank, a prominent crypto custody platform, according to a report by Barron's published Monday.
The investigation is reportedly being led by El Dorado Task Force, a specialized DHS unit focused on dismantling transnational money laundering networks. According to sources familiar with the matter, the task force has reached out to former employees of Anchorage to inquire about the firm’s internal practices and policies related to financial crime compliance. The precise focus and scope of the investigation remain unclear.
Both Anchorage and the DHS declined to comment on the matter when contacted by Barron’s.
Leadership Shift Amid Scrutiny
The report also noted a recent leadership shake-up: TuongVy Le, General Counsel at Anchorage, has stepped into an advisory role as she weighs opportunities outside the company.
This is not the first time Anchorage has come under regulatory scrutiny. In 2022, the Office of the Comptroller of the Currency (OCC) issued a cease-and-desist order against the bank for alleged shortcomings in know-your-customer (KYC) and anti-money laundering (AML) compliance procedures.
Anchorage, which became the first federally chartered digital asset bank in the U.S., has positioned itself as a key institutional player in crypto custody. The latest inquiry could mark a critical juncture for its compliance and operational oversight strategies.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
