Cryptocurrency exchange Beaxy closed down due to SEC lawsuit.

According to a report by CoinDesk on March 29th, due to the US Securities and Exchange Commission's (SEC) accusation of Beaxy and its founder Artak Hamazaspyan operating an unregistered trading platform and brokerage business, the cryptocurrency exchange Beaxy has officially shut down. The SEC also accused Beaxy Digital Ltd. of illegally raising $8 million by issuing unregistered securities (BXY Token). In addition, Hamazaspyan "misappropriated at least $900,000 for personal use, including gambling."