The SEC has reached a settlement with Mango DAO, Mango Labs LLC, and the Blockworks Foundation, alleging that the MNGO token is an unregistered security and that these entities provide unregistered brokerage services.
- MNGO tokens will be destroyed and crypto exchanges will be asked to stop trading the tokens.
- A total of $700,000 will be paid.
- The settlement is subject to court approval.
The Mango DAO also voted on and accepted the settlement proposal with the CFTC. It is unclear what the future holds without the MNGO token. đŒ
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