Decentralized crypto exchange Mango Markets faces new challenges:

- The exchange is under investigation by the Commodity Futures Trading Commission (CFTC) for failing to register as a commodity exchange, illegally providing services to U.S. customers, and failing to sufficiently verify the identities of its users.

- Mango DAO has offered to settle the case by paying a fine of $500,000 without admitting guilt.

- The offer must be approved by MNGO token holders and CFTC commissioners.

- Mango Markets has already paid almost $700,000 in a settlement with the SEC.

- The exchange also incurred significant legal costs after a hack in 2022.