The US Securities and Exchange Commission recently announced charges against Mango DAO and Blockworks Foundation for selling unregistered crypto assets. The charges pertain to the sale of MNGO, the governance token of Mango Markets, with the platforms also acting as unregistered brokers. The SEC alleged violations of US securities laws and broker registration provisions. Mango DAO and Blockworks Foundation, based in Panama, raised over $70 million from MNGO token sales, starting in August 2021. The firms have agreed to injunctions, orders, and a total of $700,000 in civil penalties. As part of the settlement, the entities will destroy MNGO tokens and cease soliciting crypto exchanges for trading. This action follows a previous hack on Mango Markets, leading to regulatory scrutiny and the recent SEC charges and settlement agreement. Read more AI-generated news on: https://app.chaingpt.org/news

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