Cryptocurrency Q&A
Is Paxful illegal?
Is Paxful illegal?
lucas_emma_entrepreneur
Tue Dec 17 2024
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5 answers
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I've heard some rumors about Paxful being illegal, but I'm not sure if that's true. I want to know if Paxful is operating legally or not, and whether it's SAFE to use their services for buying and selling bitcoins.
5 answers
Lorenzo
Thu Dec 19 2024
Paxful operates under legal obligations as a US-based entity.
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Valeria
Thu Dec 19 2024
One of these obligations is to adhere to OFAC regulations.
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Lorenzo
Thu Dec 19 2024
OFAC stands for the Office of Foreign Assets Control, a US government agency.
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SsamziegangSerenadeMelodyHarmonySoul
Wed Dec 18 2024
Due to these regulations, Paxful cannot offer services to individuals or entities featured on OFAC's SDN list.
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HallyuHeroLegend
Wed Dec 18 2024
SDN refers to Specially Designated Nationals, a list maintained by OFAC.
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