Tag: Mango DAO

Crypto Compliance: DeFi Scheme Mango Markets to Destroy All MNGO Tokens Following SEC Settlement!

Court Cases Charlene Lensburg - September 30, 2024

The U.S. SEC has charged the Solana-based decentralized finance (DeFi) platform Mango Markets with securities violations. As part of the settlement, the scheme will collectively pay nearly $700,000 in penalties. The scheme operators have also agreed to destroy all MNGO tokens, remove MNGO from trading platforms, and cease any attempts to promote or offer MNGO for trading.

SEC Charges Crypto Asset Trading Platform Mango Markets for Unregistered Offers and Sales of the Platform’s “MNGO” Governance Tokens!

Crypto Compliance tamir - September 28, 2024

Labeling an entity as a ‘DAO’ doesn’t exempt it from U.S. securities laws. The SEC’s crackdown on Mango DAO and Blockworks Foundation highlights that all intermediaries of securities—whether automated or decentralized—must comply with registration requirements. The crypto industry must heed this warning, as the enforcement heat continues to rise.

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