US SEC sues crypto firm Beaxy Digital, execs for failing to register

NEW YORK : The U.S. Securities and Exchange Commission has charged cryptocurrency trading platform Beaxy.com and several executives and related entities for failures to register, the agency said on Wednesday, the latest in a wave of enforcement activity targeting the crypto industry.

Founder Artak Hamazaspyan and a company he controlled, Beaxy Digital Ltd, raised $8 million in an unregistered offering of the Beaxy token , and Hamazaspyan also misappropriated at least $900,000 for personal use, the SEC said. Another executive, Brian Peterson, and his companies provided market making services for the Beaxy platform, acting as unregistered dealers, the SEC said.

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