The Securities and Exchange Commission has filed a lawsuit against Beaxy, affiliated entities, and executives for operating an unlicensed securities exchange.

The lawsuit alleges that they engaged in the sale of an unregistered security with exchange token BXY, and also operated Beaxy as an unregistered securities exchange, failing to register as a broker or a clearing agency.

Find out what the rest of the allegations entail and the details behind a $900,000 misappropriation of funds by listening to the article above.

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