PANews reported on March 29 that according to CoinDesk, the digital currency exchange Beaxy said that the encryption platform Beaxy has been officially closed because the U.S. Securities and Exchange Commission (SEC) accused the company and its founder Artak Hamazaspyan of operating an unregistered exchange and brokerage business. The SEC also accused Beaxy Digital Ltd. of illegally raising $8 million by issuing unregistered securities using its BXY token.