Odaily News Silvergate Capital Corp., the parent company of crypto-friendly bank Silvergate Bank, has agreed to pay $63 million to settle with the U.S. SEC, the Federal Reserve and the California Department of Financial Protection and Innovation (DFPI). Regulators accused it of failing to maintain an adequate anti-money laundering program and making misleading disclosures about the effectiveness of the program. Silvergate was fined $43 million by the Federal Reserve and $20 million by California regulators, who also pointed out that the bank had deficiencies in tracking internal transactions. The SEC also fined it $50 million, but it is not expected to increase the total fine. The SEC said any fines owed by Silvergate may be offset by the amount it pays to banking regulators, and the settlement agreement is subject to court approval. The SEC also charged former executives of Silvergate. Former CEO Alan Lane and former COO Kathleen Fraher agreed to a settlement, while former CFO Antonio Martino denied the allegations. (CoinDesk)