🚨 Breaking! Another mainstream P2P platform pleads guilty, fined $4 million! 🚨

🟣 Core of the event: Why did Paxful plead guilty?

• The U.S. Department of Justice accused Paxful of having systemic deficiencies in anti-money laundering (AML) and 'Know Your Customer' (KYC) practices.

• The platform was accused of failing to effectively monitor and report suspicious transactions, facilitating illegal activities.

• Ultimately, Paxful admitted to the criminal charges and agreed to pay a $4 million criminal fine.

This means for ordinary users: when choosing a trading platform, its compliance and security have become an indispensable 'survival indicator'.

🟩 Industry impact and future direction: Regulatory sword hanging high

The U.S. Department of Justice emphasized that this case sends a clear signal to the entire cryptocurrency industry: **'Not complying with the law is not an option'**.

• **Tighter regulation**: In the future, global compliance reviews of centralized and P2P platforms will be unprecedentedly strict, increasing operational costs.

• **Industry purification**: Short-term pain, but beneficial in the long run for expelling bad actors, protecting legitimate users, and enhancing industry reputation.

• **User benefits**: A safer trading environment, with better protection for assets and personal information. The value of compliant platforms will be further highlighted.

• **Clear choices**: Users will be more inclined to choose top platforms like Binance that continuously invest in compliance and have robust risk control systems.

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