PANews
PANews|Dec 11, 2025 00:10
[Bitcoin Exchange Paxful Agrees to Guilty Plea, Fined $7.5 Million] According to Decrypt, Bitcoin P2P marketplace operator Paxful Holdings Inc. has agreed to plead guilty to U.S. federal charges and pay a $4 million criminal fine to the U.S. Department of Justice. Additionally, the Financial Crimes Enforcement Network imposed a $3.5 million civil fine 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 enabling criminal activities. Despite being aware of criminal behavior on its platform, Paxful failed to file the required suspicious activity reports and misrepresented its anti-money laundering policies to third parties. The sentencing date is set for February 10, 2026.
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