Silvergate Faces $50 Million Penalty Amid SEC Charges

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10 months ago bitnews

The U.S. Securities and Exchange Commission (SEC) has taken legal action against Silvergate Capital Corporation, the parent company of the crypto-friendly Silvergate Bank. This lawsuit alleges that Silvergate, along with its former CEO Alan Lane and former Chief Risk Officer Kathleen Fraher, misled investors about its compliance with the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) protocols The post Silvergate Faces $50 Million Penalty Amid SEC Charges appeared first on CryptoCoin.News .