The post Mango Markets To Make Settlement With SEC By Paying $223,228 Penalty appeared first on Coinpedia Fintech News
Mango Markets is considering making a settlement offer with the US SEC over allegations of violating US securities laws. The Mango DAO proposed a settlement that includes paying fines, destroying its MNGO tokens, and seeking delisting from trading platforms. The proposed settlement involves Mango DAO neither admitting nor denying wrongdoing and paying a $223,228 civic penalty from the DAO Treasury, which currently holds nearly $2 million in USD Coin (USDC) and other assets. The proposal aims to avoid litigation and resolve the SEC’s allegations without admitting or denying wrongdoing, which is yet to be accepted by the regulator.