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Peer-to-peer crypto exchange Paxful has been ordered to pay $4 million after admitting it knowingly profited from criminals who used its platform because of its lack of anti-money laundering checks.
The Justice Department said on Wednesday that Paxful was sentenced to pay the fine after pleading guilty in December to conspiring to promote illegal prostitution, knowingly transmitting funds derived from crime and violating anti-money laundering requirements.
“Paxful profited from moving money for…
