The SEC accused Beaxy of operating an unregistered crypto tradin

The US Securities and Exchange Commission has charged cryptocurrency platform Beaxy and its executives for allegedly failing to register as an exchange, broker and clearing house. Encryption platform Beaxy has officially shut down. The SEC also accused founder Artak Hamazaspyan and a company he controls, Beaxy Digital Ltd, of raising US $8 million in an unregistered Beaxy token offering.
The SEC also said he used $900,000 for personal consumption, including gambling.