TechFlow reported on September 24, according to Coindesk, that decentralized crypto exchange Mango Markets is considering a $500,000 settlement with the U.S. Commodity Futures Trading Commission (CFTC). Mango Markets disclosed on its Discord server that the CFTC accused it of operating as an unregistered commodity exchange, illegally providing services to U.S. users, and failing to conduct customer identification checks. The proposed settlement requires approval through a vote by holders of Mango DAO's governance token MNGO and must also be ratified by CFTC commissioners. Previously, Mango Markets reached a settlement with the U.S. Securities and Exchange Commission (SEC) for approximately $700,000. It is reported that Mango DAO has already incurred over $220,000 in legal and related expenses due to regulatory investigations.
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