US Marshals Tap Crypto Bank To Handle Seized Digital Assets

By Jon Hill (July 28, 2021, 2:10 PM EDT) -- Anchorage Digital, the first cryptocurrency bank to receive federal charter approval, has been awarded a contract to manage seized and forfeited digital assets for the U.S. Marshals Service, the company said Wednesday.

Under the roughly $6 million deal, California-based Anchorage will be responsible for taking custody of and securely storing cryptocurrency impounded by the marshals service. Anchorage will also provide a "full range" of related services, including disposing of forfeited cryptocurrency through exchange or sale at the government's direction.

"This award speaks to both the quality of the platform we have developed and the stringent processes and procedures we have put...

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