Bitcoin exchange Paxful agrees to plead guilty, fined $7.5 million

PANews December 11 News, according to Decrypt, Bitcoin P2P market operator Paxful Holdings Inc. has agreed to plead guilty to federal charges in the United States and pay a criminal fine of $4 million. In addition, the Financial Crimes Enforcement Network also 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 transactions totaling approximately $3 billion and generated over $29 million in revenue, while deliberately facilitating criminal activities. Despite being aware of criminal activity on its platform, Paxful failed to submit required suspicious activity reports and misrepresented its anti-money laundering policies to third parties. The sentencing date is set for February 10, 2026.