Mango DAO agrees to destroy MNGO tokens in settlement with SEC
CryptopolitanSep 27, 2024 7:36 PM
Mango DAO has agreed to settle charges with the US Securities and Exchange Commission over the sale of “MNGO” tokens without admitting or denying the allegations by the regulator.
In a statement Friday, the SEC said it filed settled charges against Mango DAO and Blockworks Foundation, a Panama entity, for “engaging in unregistered broker activity in connection with various crypto assets being offered and sold as securities on the Mango Markets platform.”
Mango agreed to pay nearly $700,000 in civil penalties, destroy their MNGO tokens, and request the removal of MNGO tokens from trading platforms, among other things.
This is a developing story.
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