Golden Finance reported that 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 and its former CFO were also accused of misleading investors about expected securities sales losses after the collapse of cryptocurrency exchange FTX. 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 that any fines owed by Silvergate may be offset by the amount it pays to bank regulators, and the settlement agreement is subject to court approval.