Silvergate Settles SEC Lawsuit For $50 Million; Fed, California Regulator Demand $63 Million Fine

Silvergate Capital settled with the SEC for $50 million as Federal Reserve governors and California financial regulators demanded $63 million in fines on July 1. The SEC claimed Silvergate Capital, its subsidiary Silvergate Bank, and two executives misled investors about the strength of its BSA/AML compliance program and the monitoring of crypto customers, including the

Source: Bitcoin World