SEC Settles with Mango DAO Over Token Sale

The post SEC Settles with Mango DAO Over Token Sale appeared first on Coinpedia Fintech News

The SEC has filed settled charges against Mango DAO and Blockworks Foundation, alleging unregistered securities sales through MNGO tokens. The entities agreed to pay $700,000 in civil penalties, destroy the tokens, and delist them from exchanges. This settlement, reached without admission of wrongdoing, is still pending court approval. The SEC claims Mango raised over $70 million from the sale of MNGO tokens, violating U.S. securities laws. The Mango DAO community had already voted in August to settle with the SEC, with further settlements proposed to the CFTC.