Beaxy Обзоры, торговые комиссии и криптовалюты 2023

The lawsuit also pulled in Brian Peterson, who allegedly provided market-making services for Beaxy through his companies Braverock Investments LLC and Future Digital Markets Inc. Jane is a highly motivated and accomplished professional with over a decade of experience in the financial services sector. Beginning her career as a practicing lawyer in Malaysia, she later transitioned to the financial services industry where she assumed responsibility for overseeing regulatory compliance and risk management. Parsa Khoshdel is an accomplished management consulting professional with more than 11 years of experience in private banking and financial services consulting. He has extensive experience in driving large scale regulatory business transformation programs in collaboration with leading global financial institutions. Parsa holds a Masters degree in Financial Engineering from National University of Singapore and is currently leading the PBWM Regulatory Compliance and Risk Management division for Synpulse in APAC.

The penalty amounts reflect the cooperation the staff received from the settling parties during the investigation. Bradley is Co-Founder at Regulation Asia, the leading regulatory news intelligence service for the financial sector in APAC. Bradley advises governmental and start-up projects, including several regulated digital assets, climate markets and payments entities. The SEC said in its official statement that it has also charged the 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, denoted by BXY. “The Beaxy Platform also had the ability to trade crypto asset securities against its own customers, which gives it the means and the motive to put itself on the winning side of each trade, without regard to obligations that apply to registered broker-dealers,” the filing said.

Beaxy Trust Score

I strongly suspect – and I’m guessing I’m not the only one – that this may be a preview of how the SEC’s case against other crypto exchanges (cough) may go. The next few paragraphs then contrasted Beaxy with the traditional securities world, noting that a national securities exchange would not “take possession or control” of an asset being traded, while clearing agencies handle settlement and broker-dealers. By doing so, the complaint alleges that Peterson and the Braverock Entities acted as unregistered dealers. It further charged founder Artak Hamazaspyan with conducting an unregistered offering in which he raised $8 million from selling Beaxy tokens (BXY). Hamazaspyan also allegedly misappropriated at least $900,000 for personal use, including gambling.

The US Securities and Exchange Commission (SEC) on Wednesday registered charges against crypto trading firm Beaxy and executives at the company. In an official statement, the regulator said the founder of the organisation Artak Hamazaspyan raised $8 million through an unregistered crypto token offering, reported Bitcoin. It said the company and its founder indulged in the misappropriation of around $900,000 for their personal reasons, which included gambling. SEC Chairman Gary Gensler said, «We allege that Beaxy and its affiliates performed the functions of an exchange, broker, clearing agency, and dealer without registering with the Commission and complying with clear, time-tested rules governing those activities.» Gensler also alleged that the crypto trading firm and its top executives did not “register as a national securities exchange, broker, and clearing agency.” The SEC has levelled charges of operating the Beaxy Platform as unregistered dealers. The crypto world was riveted last week by news of the US Commodity Futures Trading Commission’s hard-hitting lawsuit against industry leader Binance — and rightly so.

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In its lawsuit, filed Wednesday at the Northern District of Illinois, the securities regulator also accused the platform of failing to register as a broker and a clearing agency. Beaxy suspended services on its exchange and ceased operations “due to the uncertain regulatory environment surrounding our business,” the company said on its website—the SEC said in a statement Beaxy agreed to shut down the platform. Without admitting or denying the allegations in the complaint, Windy, Murphy, Abbott, Peterson, and the Braverock Entities have agreed to permanent injunctions prohibiting them from future violations of the securities laws alleged in the complaint and to pay civil penalties. Specifically, Windy, Abbott, and Murphy agreed to pay a total of $79,200 in civil penalties; Peterson agreed to pay a civil penalty of $6,600; and the Braverock Entities agreed to jointly and severally pay a penalty of $80,000. In addition, Windy agreed to pay $10,779 in disgorgement plus prejudgment interest, and the Braverock Entities agreed to jointly and severally pay $52,000 in disgorgement plus prejudgment interest.

The Securities and Exchange Commission today charged the crypto asset trading platform beaxy.com (the Beaxy Platform) and its executives for failing to register as a national securities exchange, broker, and clearing agency. The SEC also charged the 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) and alleged that Hamazaspyan misappropriated at least $900,000 for personal use, including gambling. Finally, the SEC charged market makers operating on the Beaxy Platform as unregistered dealers. 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.

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Regulation Asia tracks and analyses financial regulation across Asia to keep readers informed on the changes and their impacts. However, it expressed regrets that the regulatory environment was just too uncertain to function. It added that the current situation arose despite their best efforts to operate. You’re Beaxy reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Customers of the exchange will be able to withdraw their assets within 24 hours after all user orders are canceled and balances are verified and are encouraged to do so within 30 days, the SEC said.

Blockchain’s capability goes beyond improving government services, says Bryan Daugherty in his latest Evening Standard piece, stressing the technology could also benefit businesses and everyday users. “Unfortunately, despite our best efforts, it has become clear that the regulatory environment is just too uncertain to continue operations,” https://investmentsanalysis.info/ stated. Bradley is a senior Financial Regulation and Risk Management research fellow with The Guangzhou-Nottingham Advanced Institute of Finance and the Guangzhou University of Finance’s Institute of Financial Employment. Focused on the broader economic impact of financial regulation, he holds Master’s degrees in Finance, Quantitative Research and Law from New York University’s Stern School of Business, the Hong Kong University of Science and Technology, and the University of Melbourne. He is currently a doctoral candidate at the Swiss Business School in Zurich.

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Windy and its current managers agreed to pay $79,200 in civil penalties but did not admit to or deny the SEC’s allegations, the agency said, but the SEC is still litigating securities fraud charges filed against Hamazaspyan. This fee is line with the historical global industry average, which was arguably around 0.25%. Today, however, the industry average is 0.213% for takers and 0.16% for makers, so Beaxy is a bit above average when it comes to taker fees. Ari Redbord is Head of Legal and Government Affairs at TRM Labs, a blockchain analytics company. Prior to joining TRM Labs, he served as a Senior Advisor to the Deputy Secretary and the Under Secretary for Terrorism and Financial Intelligence at the United States Department of Treasury.

In his role, he represented MAS on various international committees under the FSB, CPMI and IOSCO, on subjects such as OTC derivatives reforms and financial market infrastructures. Prior to that, he also served in various roles in exchange and clearing house supervisory functions. Mr Nagatsuka holds both a Bachelor of Business Management and Bachelor of Science in Economics from the Singapore Management University. Securities and Exchange Commission charged the company and its founder, Artak Hamazaspyan. With operating an unregistered exchange and brokerage, the agency said Wednesday in a statement.

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He has also been involved in several high-profile research programmes, including assisting the US Treasury Department in accessing the Troubled Asset Relief Program (TARP) instituted following the 2008 global financial crisis. The SEC alleges Beaxy founder Artak Hamazaspyan illegally raised $8 million in an unregistered offering of its Beaxy token. Below are a few of the advantages the exchange itself promotes on its website. Among these, security, performance, low trading fees and 24/7 support are the ones we deem most important.

• 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.
• At this exchange, they accept fiat currency deposits (both wire transfer and credit cor debit card transfers) through Simplex.
• Bradley is Co-Founder at Regulation Asia, the leading regulatory news intelligence service for the financial sector in APAC.
• The exchange claims to support 6 fiat pairs, a two-way fiat ramp, credit and debit card support, and spot cryptocurrency trading.

While this complaint seems pretty clear, as ConsenSys’ Matt Corva pointed out, part of the issue with registration is figuring out the asset aspect of it all. Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. At this exchange, they accept fiat currency deposits (both wire transfer and credit cor debit card transfers) through Simplex.