U.S. DOJ orders Paxful to pay $4 million after December plea over AML violations

On Wednesday, the U.S. Department of Justice said Paxful was ordered to pay a $4 million fine following its December guilty plea to conspiring to promote illegal prostitution, transmit criminal proceeds and breach anti‑money‑laundering rules. Prosecutors added the platform marketed itself as non‑KYC, handled over 26 million trades worth nearly $3 billion from January 2017 to September 2019, and agreed an appropriate penalty of $112.5 million but was assessed as unable to pay more than $4 million.