U.S. SEC sues crypto firm Beaxy Digital, execs for failing to register

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo

NEW YORK (Reuters) - The U.S. Securities and Exchange Commission has charged cryptocurrency trading platform Beaxy.com and several executives and related entities for failures to register, the agency said on Wednesday, the latest in a wave of enforcement activity targeting the crypto industry.

Given the variety of roles Beaxy played in the marketplace, the company violated U.S. law by failing to register with the regulator as an exchange, a clearing agency and a broker, the SEC said in a statement about the lawsuit.