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The US OCC cancels the rectification requirements for Anchorage Digital, signaling a friendly regulatory attitude.
[OCC Cancels Corrective Action Requirement for Anchorage Digital, Regulatory Attitude Shifts to Friendly] The Office of the Comptroller of the Currency (OCC) announced the withdrawal of the corrective action consent order against Anchorage Digital. This document was initially issued during the Biden administration in 2022 due to insufficient Anti-Money Laundering (AML) and Know Your Customer (KYC) practices. The OCC stated that the bank's robustness and compliance situation no longer require the continuation of this requirement. During the year of the Trump administration, U.S. regulators gradually shifted to a friendly attitude towards cryptocurrency. The Federal Reserve has rescinded previous guidelines that restricted banks from participating in cryptocurrency activities and, in conjunction with the OCC, issued a statement clarifying how existing rules apply to banks holding customers' crypto assets.