SEC fines Mango DAO and Blockworks Foundation $700,000 for selling unregistered securities 🚨
- The SEC has charged Mango DAO and Blockworks Foundation with selling unregistered Mango tokens (MNGO).
- The companies have agreed to pay the fine, destroy the tokens, and stop marketing them.
- The SEC says the DAO tag does not exempt from registration.
- Mango DAO votes to pay the fine and destroy the tokens.
Be careful in the crypto market!