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US Marshals Service Chooses Anchorage Digital for Custody of Seized Digital Assets
Anchorage Digital said it will also provide “such activities as accounting, customer management, audit compliance and managing blockchain forks.”
The U.S. Marshals Service (USMS), a part of the Department of Justice, is now using Anchorage Digital for the custody of its trove of tainted seized digital assets.
STORY CONTINUES BELOW
In an announcement Wednesday, Anchorage Digital said after a yearlong bidding process the law enforcement agency USMS Asset Forfeiture Division will be using its custodial services.
CoinDesk reported in April that crypto custodian BitGo was set to manage the USMS digital assets under a $4.5 million contract. But that deal appears to have fallen through.
"We are unable to comment on BitGo, but Anchorage participated in more than a yearlong process, and in the end, we were chosen," a spokesperson from Anchorage told CoinDesk. "There are many factors at play when it comes to a decision like the DOJ’s.”
Among its actions in dismantling organized crime operations, the USMS seizes assets that are the “proceeds of, or [are] used to facilitate, federal crimes.”
Recently, the USMS has seized more digital assets in its work.
Anchorage Digital said that it will also provide “such activities as accounting, customer management, audit compliance, managing blockchain forks, wallet creation, transformation of token assets into coin assets, etc., as well as future actions associated with the virtual currency forfeiture process.”
Representatives of USMS and BitGo did not immediately respond to CoinDesk.
UPDATE (July 28, 18:46 UTC): Updated to clarify description of USMS in the first paragraph.
Read more: Anchorage to Custody Digital Securities for Prometheum’s Retail Trading Platform
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
