Overview

In compliance with US federal regulations, Singapore regulations, and global anti-money laundering (AML) requirements, we require additional information related to deposit activities to fulfill "Know Your Transaction" (KYT) obligations.

These activities represent a critical step toward bringing crypto into the regulatory perimeter and safeguarding assets across the digital asset ecosystem.

Beginning June 15, 2023 (Anchorage Digital Bank) or October 16, 2023 (Anchorage Digital Singapore), we may ask you to identify the sending party of deposits from wallet addresses that we do not recognize, including the sender's name and country.

While we have built industry-first technology to automate this process and minimize inconvenience, your prompt action will help avoid withdrawal delays for deposits that we are unable to attribute.

If Anchorage Digital is unable to automatically attribute pending deposits, we may ask you to identify the sending party of deposits from wallet addresses that we do not recognize.

Any addresses added to your trusted sources will be automatically attributed.

Types of attribution

Deposits landing in your wallets at Anchorage Digital fall into two categories:

1. Known deposit
   1. These are deposits from known source wallets.
2. Unknown deposit (dust, spam, etc.)
   1. These can vary in quantity and frequency. These originate for a wide range of reasons, include address poisoning, dusting attacks, etc.

Based on the type of deposit, assuming the deposit has not been automatically attributed or is already a Trusted Source, you will need to attribute the deposit.

How to attribute a deposit

There are three options when attributing a deposit:

1. Deposit attribution API
2. Deposit attribution (spam) API
3. Deposit attribution on web dashboard

// https://api.anchorage-staging.com/v2/deposit-attributions/{depositTransactionId}

{
  "notes": "{Deposit Memo Here}",
  "originatorCountry": "{Originating Country Here}",
  "originatorName": "{Originater Name Here}",
  "sourceWalletType": "{Originating Wallet Type Here}"
}

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Commons questions

• originatorCountry& originatorName : Please provide the actual person/entity that sent the funds (not the financial institution)
• sourceWalletType
  • CUSTODIAL - The wallet owner does not have complete control over the wallet as they do not have the private key; a third party does. This key is needed to conduct transfers. Examples of custodial wallets include: Binance, Coinbase, Kraken, and Bitgo.
  • SELF_HOSTED - The wallet owner has complete control over the wallet as they have the private key. Examples of self-hosted wallets include: Metamask, Trust Wallet, Ledger Nano X, Trezor One, Electrum, Exodus, and Phantom.

Trusted sources

These are addresses you can set as a trusted source—i.e. an address where you’ve previously attributed deposits from. You can create a trusted source in the Anchorage Digital dashboard, as this is not currently available via API. We recommend creating trusted sources if you anticipate multiple or recurring deposits from the same source wallet address.

Note: If Anchorage Digital is unable to make an attribution with available data, the client is responsible for providing required information via API before assets are available in the wallet.

Automatic deposit attributions by Anchorage Digital Bank

Crypto deposits from VASPs over $2,100, the travel rule reporting threshold, are automatically attributed by Anchorage Digital if we receive a travel rule message for a customer deposit from an active TRUST network participating in VASP. This is not instant, so if you need access to funds more quickly, we suggest using the deposit attribution API.

If Anchorage Digital is unable to automatically attribute pending deposits, one or more of your authorized users will be notified via email.

Click Review and attribute deposits or use the link provided to begin attributing pending deposits in the web dashboard.

Step-by-step instructions can be found in the web dashboard section of the user guide portal.

Deposit webhooks

Once digital assets are sent to an Anchorage Digital wallet, they will need to be attributed. To monitor when the funds arrive you can leverage our webhooks to notify you of a deposit event. The alternate approach is to monitor the Deposit Attributions pending on this account via REST API (See list deposit attributions)

Spam or unknown deposits

When funds are deposited into the account from spam deposits or dusting deposits, Anchorage Digital enables the wealth manger to attribute these as SPAM, which will not result in the unwanted balances not hitting the client's account statement or trading balances. If these balances need to be removed from the account, Anchorage Digital will coordinate to have these assets swept out of the wallet into a sanctioned Anchorage-owned wallet.

API details

Additional information

In the US, Anchorage Digital Bank (ADB) is the only federally chartered crypto bank and an unequivocal qualified custodian. Outside the US, Anchorage Digital Singapore (ADS) is a licensed Major Payment Institution by the Monetary Authority of Singapore (MAS). By working with Anchorage Digital, our clients enjoy an unparalleled combination of secure custody, regulatory compliance, and platform capabilities.

As we pave the way for institutions to access crypto in a secure and compliant fashion, we expect other crypto companies to follow suit by adhering to global AML standards; when they do, our clients will be prepared to work with them and participate in the growth of the digital asset ecosystem.

We stand ready to assist, and thank you for partnering with us at this important juncture for crypto. Please reach out to your relationship manager or client experience manager with any questions.
For additional information, please see these frequently asked questions.