Paxful Faces $4 Million Fine from U.S. DOJ Over Legal Violations

The U.S. Department of Justice imposes a $4 million penalty on Paxful linked to illegal activities, but the fine is lowered due to financial capacity.

The U.S. Department of Justice (DOJ) has levied a $4 million fine on the cryptocurrency exchange Paxful, stemming from allegations of involvement in illegal sex work and money laundering. Authorities noted that this financial penalty was significantly lessened because the platform demonstrated the capability to pay.