The US Department of Homeland Security’s “El Dorado Task Force” is reportedly investigating crypto bank Anchorage Digital and is probing company employees over the bank’s practices and policies.
That’s according to news outlet Barron’s, which cites unnamed sources familiar with the inquiry. The nature of the inquiry is currently unclear, and both the US Homeland Department and Anchorage declined Barron’s request for comment.
Anchorage was the first federally chartered crypto bank in the US and partnered with Cantor Fitzgerald last month on its bitcoin (BTC) financing business.
Read more: MANTRA CEO says ‘reckless’ exchanges caused OM token collapse
In 2022, the US banking watchdog put Anchorage on notice for failing to meet various anti-money laundering (AML) regulations. The crypto firm neither admitted nor denied the allegations, which included failing to monitor suspicious activity, and said it would “strengthen” the identified areas.
Anchorage is a supporter of Donald Trump’s approach to crypto regulation and attended the president’s Digital Assets Summit last month.
The El Dorado Task Force is a multiagency body that says its mission is “to disrupt and dismantle transnational money laundering organizations by conducting aggressive proactive investigations.” It claims to be the nation’s leading AML investigative entity.
Protos has reached out to Anchorage Digital for comment and will update this piece should we hear back.
