Anchorage Digital Bank BSA Officer Testifies Before House Oversight Subcommittee on Military And Foreign Affairs

Washington, D.C. — Dustin Palmer, Bank Secrecy Act (BSA) Officer at Anchorage Digital Bank, N.A., told the House Oversight Subcommittee on Military and Foreign Affairs on June 25, 2026, that regulated digital asset infrastructure is a critical tool for American national security, U.S. dollar dominance, and financial freedom for people living under authoritarian regimes.

“Regulated digital asset infrastructure can move money to the people who need it most, those living under repressive regimes and in places where the financial system has broken down. Regulated and thoughtful compliance structures are what make that possible,” Palmer said in his opening statement. “Every issuer, institution, and partner brought inside the U.S. regulatory perimeter is one more we can see and hold to account. That visibility is a national security advantage.”

Palmer, a former Senior Advisor to the General Counsel at the U.S. Department of the Treasury and attorney at the Department of Homeland Security, brought deep expertise in anti-money laundering, countering the financing of terrorism, economic sanctions, and anti-corruption to the roundtable.

"The strongest national security posture comes from onshore stablecoin issuance, visibility, and free market propagation," Palmer told the subcommittee. "Every dollar that flows through our bank is a dollar that the U.S. government can see and hold to account."

Palmer highlighted Anchorage Digital Bank's position as the first federally regulated stablecoin issuer in the United States, having issued dollar-pegged stablecoins for Tether's U.S. entity, Western Union, Ethena Labs, OSL, and Falcon Finance. He argued that onshoring stablecoin issuance enables sanctions compliance, law enforcement coordination, and real-time oversight that offshore alternatives cannot provide.

Palmer also called attention to the strategic importance of the GENIUS Act, noting that regulatory clarity positions the United States to set the global standard for how this technology is built and governed, in direct contrast to China's closed e-CNY architecture.

“I’m grateful to the Subcommittee for the opportunity to discuss these issues, and Anchorage Digital will keep working with policymakers to ensure this technology serves people, strengthens American leadership, and stays out of the wrong hands,” Palmer said.