Windy Inc. took over the platform in 2019 after the founder misappropriated money, according to the SEC, and managers Nicholas Murphy and Randolph Bay Abbott maintained Beaxy for trading crypto assets “that were offered and sold as securities,” the SEC said. So the agency is also accusing them of violating securities law by operating an unregistered exchange, broker and clearing agency, though the platform was described as defunct in another SEC case last year.
Source: https://www.coindesk.com/policy/2023/03/29/crypto-exchange-beaxy-shut-down-after-sec-lawsuit/?utm_medium=referral&utm_source=rss&utm_campaign=headlines