Anchorage Digital Shortlisted for Custody of Seized Digital Assets
In case of any breach, the U.S. Marshals Services, also known as USMS, seizes the individual’s assets. Digital assets such as cryptocurrency came up with new challenges, and USMS had to do a lot of groundwork to find a partner who could help them manage the seized digital assets. After a comprehensive review, USMS chose Anchorage Digital as their partner for seizing digital assets. In a comment, Anchorage Digital added that the company would offer some additional services to USMS. This includes customer management, accounting, blockchain forks, and audit compliance.
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The selection process took over a year, and the tenders were invited through the bidding process. Here, Anchorage Digital will be providing custodial services to the USMS. In an article on CoinDesk, it was earlier shared that BitGo may get into the deal with USMS to act as a custodian; however, the deal didn’t materialize. In an updated report on the platform from Danny Nelson, it was reported that the decisions had been made public.
Anchorage Digital also commented on the development, and a spokesperson from the company confirmed the news. He added that many factors come into play while making such decisions. The spokesperson also said he doesn’t know about the deal with BitGo. The spokesperson from BitGo and USMS was not available to comment on the development. So Marshals Service Usmsnelsoncoindesk means US Marshals Service Chooses Anchorage Digital for Custody of Seized Digital Assets
With this development, the digital assets seized to facilitate federal crime will go to Anchorage Digital. The company plays a pivotal role here as it will provide additional services like wallet creation and converting tokens to coins. The company works closely with USMS during such seizure operations. This comes as good news since digital currencies were being used in the black market for crimes and money laundering. The partnership will discourage the misuse of digital assets.