Peer-to-peer virtual asset trading platform Paxful has been sentenced to pay a $4 million criminal penalty after pleading guilty to multiple federal offenses, according to an official press release from the US Department of Justice.
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US officials announced that Paxful must pay a $4 million penalty after the company admitted it earned money from criminal activity that passed through its peer-to-peer crypto marketplace ... .
Paxful ordered to pay $4M after pleading guilty to federal charges tied to prostitution and AML violations ... Paxful Holdings Inc., the operator of an online peer-to-peer virtual currency trading ...
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Paxful, once one of the largest peer‑to‑peer (P2P) Bitcoin marketplaces, has agreed to pay a $4 million criminal penalty after pleading guilty to multiple federal offenses, the US Department of Justice (DOJ) announced Wednesday.
US prosecutors said Paxful marketed itself as a non-KYC platform and presented anti-money laundering policies that it knew “were not implemented or enforced.” ... .
The Department of Justice sentenced Paxful Holdings Inc ...United States authorities have imposed a Paxful money laundering fine ... In doing so, Paxful facilitated the movement of capital from prostitution ...
Paxful Holdings has been mandated by a judge to pay a $4 million fine after the company deliberately invited criminals onto its platform and turned a blind eye to their illegal activities ... A federal court sentenced Paxful Holdings Inc.