The U.S. Securities and Exchange Commission (SEC) has reached a settlement with Mango Markets, a Solana-based decentralized exchange (DEX), involving nearly $700,000. According to the SEC's statement, the DEX was accused of failing to register the digital assets it sold as securities. The SEC alleges that Mango Markets violated federal securities laws by offering and selling at least one unregistered security through its platform. The SEC said Mango Markets agreed to pay a total of $690,998 in penalties and disgorgement plus interest. Gurbir S. Grewal, head of the SEC's Enforcement Division, said this case shows that digital asset markets, regardless of the type of securities issued, must comply with federal securities laws. He also added that the SEC will continue to closely monitor the digital asset market and take necessary steps to protect investors. The settlement means that Mango Markets does not admit or deny that it violated any laws, but has agreed to pay the relevant amount to settle the charges. Mango Markets offers a range of financial instruments through its platform, including perpetual contracts and lending services. The SEC said they will continue to monitor the digital asset market to ensure that all market participants comply with the law.

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