So, the SEC closes down an exchange accused of fraud and misappropriation of funds and looking at their front page, what do they say:
Not only it was their "difficult" decision that they have taken themselves but it was the uncertain regulatory environment that caused this, not the fact that they spawned companies to hide their transactions, not the fact they never bothered to register with the SEC, not that they ignored everything to date, not a word on anything else.
Can a thief freely admit that they have been thieves? Quote
Regrettably, we are announcing the immediate suspension of services on Beaxy Exchange. Due to the uncertain regulatory environment surrounding our business, we have made the difficult decision to cease operations.
Not only it was their "difficult" decision that they have taken themselves but it was the uncertain regulatory environment that caused this, not the fact that they spawned companies to hide their transactions, not the fact they never bothered to register with the SEC, not that they ignored everything to date, not a word on anything else.
Obviously not!
We saw a classic example with the SBF, FTX and Alameda research saga. The kept lying to us to very last minute.