SEC Files Charges Against Beaxy.com Platform and Executives for Securities Violations

The Securities and Exchange Commission (SEC) has charged the crypto asset trading platform, Beaxy.com, and its executives for failing to register as a national securities exchange, broker, and clearing agency. The SEC also charged founder of the platform Artak Hamazaspyan, and a company he controlled, Beaxy Digital, Ltd., with raising $8 million in an unregistered offering of the Beaxy token (BXY). Additionally, the SEC charged market makers operating on the Beaxy Platform as unregistered dealers. According to the SEC’s complaint, since October 2019, Nicholas Murphy and Randolph Bay Abbott, through the company they managed, Windy Inc., maintained and provided the Beaxy Platform as a web-based trading platform that facilitated the buying and selling of crypto assets that were offered and sold as securities. In response, Windy, Murphy, Abbott, Peterson, and the other entities who have been charged by the SEC have agreed to permanent injunctions prohibiting them from future violations of the securities laws alleged in the complaint and paying various civil penalties ranging from $6,600 to $79,200.