PANews reported on December 11 that, according to Decrypt, Bitcoin peer-to-peer marketplace operator Paxful Holdings Inc. has agreed to plead guilty to federal charges in the United States and pay a $4 million criminal fine to the U.S. Department of Justice. Additionally, the Financial Crimes Enforcement Network (FinCEN) imposed a $3.5 million civil fine on the company on Tuesday. Paxful had previously shut down in 2023. According to the U.S. Department of Justice, between 2017 and 2019, the company facilitated approximately $3 billion in transactions, generating over $29 million in revenue, while knowingly facilitating criminal activity. Despite its knowledge of criminal activity on its platform, Paxful failed to submit required suspicious activity reports and misrepresented its anti-money laundering policies to third parties. Sentencing is scheduled for February 10, 2026.PANews reported on December 11 that, according to Decrypt, Bitcoin peer-to-peer marketplace operator Paxful Holdings Inc. has agreed to plead guilty to federal charges in the United States and pay a $4 million criminal fine to the U.S. Department of Justice. Additionally, the Financial Crimes Enforcement Network (FinCEN) imposed a $3.5 million civil fine on the company on Tuesday. Paxful had previously shut down in 2023. According to the U.S. Department of Justice, between 2017 and 2019, the company facilitated approximately $3 billion in transactions, generating over $29 million in revenue, while knowingly facilitating criminal activity. Despite its knowledge of criminal activity on its platform, Paxful failed to submit required suspicious activity reports and misrepresented its anti-money laundering policies to third parties. Sentencing is scheduled for February 10, 2026.
Bitcoin exchange Paxful agreed to plead guilty and was fined $7.5 million.
PANews reported on December 11 that, according to Decrypt, Bitcoin peer-to-peer marketplace operator Paxful Holdings Inc. has agreed to plead guilty to federal charges in the United States and pay a $4 million criminal fine to the U.S. Department of Justice. Additionally, the Financial Crimes Enforcement Network (FinCEN) imposed a $3.5 million civil fine on the company on Tuesday. Paxful had previously shut down in 2023. According to the U.S. Department of Justice, between 2017 and 2019, the company facilitated approximately $3 billion in transactions, generating over $29 million in revenue, while knowingly facilitating criminal activity. Despite its knowledge of criminal activity on its platform, Paxful failed to submit required suspicious activity reports and misrepresented its anti-money laundering policies to third parties. Sentencing is scheduled for February 10, 2026.
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