🚀 Paxful Co-Founder Indicted by US Department of Justice
#Paxful #RayYoussef #cryptomarketplace #USDepartmentofJustice #licensing #antimoneylaundering #AML #Bitcoin #illegaltransactions #Backpage #cryptoregulation #crypto #Paxfulshutdown #moneylaundering #BTC
The US Department of Justice has charged Ray Youssef, co-founder of Paxful, with operating the crypto marketplace without proper licensing and ineffective anti-money laundering (AML) controls prior to its shutdown in 2025. According to NS3.AI, prosecutors allege that Paxful facilitated illicit transactions linked to unlawful activities, including commercial sex advertising, by connecting Bitcoin transfers to Backpage. Youssef has denied the charges, claiming they are a result of selective targeting amid ongoing regulatory scrutiny of cryptocurrency platforms.#Paxful #RayYoussef #cryptomarketplace #USDepartmentofJustice #licensing #antimoneylaundering #AML #Bitcoin #illegaltransactions #Backpage #cryptoregulation #crypto #Paxfulshutdown #moneylaundering #BTC