OCC grants Anchorage First Federally Chartered Bank
Anchorage

OCC grants Anchorage First Federally Chartered Bank

By Keith Thuerk | New to Crypto's? | 13 Jan 2021


OCC grants Anchorage First Federally Chartered Bank

 

So the City of Anchorage has a federal charter? - negative ghost rider!  The Crypto custodian Anchorage has been granted that conditional approval!  One could think of this as a National Bank w/ Crypto services. 

Today the U.S. Office of the Comptroller of the Currency (OCC), granted conditional approval for Anchorage making it the first national “digital asset bank” in the U.S!  A Huge Leap for the US in the right direction!  Wonder when the Kraken charter will get the nod?

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Does this result in easing of US Regulations?  Nope, just they have figured out how to include digital/crypto assets.

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Who is Anchorage? They are a national bank. And “The benefit of having a federally chartered bank is that it preempts all the state laws."  The most recent 13-F filing I read showed they had $28,296,069,829 Assets Under Management (AUM).   You can learn more about them - https://anchorage.com/

What does the National Charter provide? A national charter will allow businesses to operate throughout the country at once. 

Who else has filed for National Charter?  Kraken & Avanti filed Nov. '20 for special purpose depository institutions under Wyoming law.  While BitPay and Paxos also filed w/ the OCC for National Charter status. 

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Summary - IF Brian Brooks time is limited at the OCC this would be a hard item for his replacement to unwind. I hope this sets a precedence moving forward. 

 

Enjoy the Journey!


Keith Thuerk
Keith Thuerk

Currently learning about Crypto's and DeFi to combat the Inflationary Tidal wave coming our way!


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