SEC Files Charges Against Crypto Exchange Beaxy

The SEC has accused crypto trading platform Beaxy, its founder Artak Hamazaspyan, and Beaxy Digital of unregistered activities as a securities exchange, broker and clearing agency, as well as securities fraud and misappropriation of at least $900,000 of investors’ funds.

According to the statement:

“Since October 2019, Nicholas Murphy and Randolph Bay Abbott, through their company Windy Inc. supported and represented Beaxy as an online trading platform for the purchase and sale of crypto assets, which were offered under the guise of securities.”

Furthermore, the Commission has also settled the charges against Beaxy’s market makers Nicholas Murphy, Randolph Bay Abbott, Brian Peterson, and their companies Braverock Investments LLC, Future Digital Markets Inc., Windy Financial LLC, and Future Financial LLC for allegedly providing market maker services for BXY and other assets without being registered dealers.