TechFlow news, according to The Block, Mango DAO has agreed to settle with the U.S. SEC after being accused of illegally selling MNGO tokens.
Mango Labs, Mango DAO, and Blockworks Foundation have collectively agreed to settle the allegations and pay a total penalty of $700,000. The three entities also agreed to destroy their MNGO tokens.
The SEC's charges target Mango DAO and the Panama-based entity Blockworks Foundation, alleging they "offered and sold unregistered crypto asset" governance tokens on the Mango Markets platform.
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