According to TechFlow, The Block reported that Mango DAO agreed to a settlement with the US SEC after being accused of illegally selling MNGO tokens.

Mango Labs, Mango DAO, and Blockworks Foundation agreed to settle charges and pay a total of $700,000 in fines. The three companies also agreed to destroy their MNGO tokens.

The SEC’s complaint targets Mango DAO and Panamanian entity Blockworks Foundation, accusing them of “unregistered offers and sales of crypto assets” governance tokens on the Mango Markets platform.