Mango Markets is facing charges from the CFTC for allegedly failing to register as a commodities exchange, illegally offering services to U.S. customers, and not verifying customer identities.
Mango DAO proposes a $500,000 settlement to the CFTC without admitting wrongdoing, pending approval from MNGO token holders and the CFTC's commissioners.
After last year's multimillion-dollar hack and ongoing regulatory challenges, Mango Markets continues to navigate complex legal issues, including additional settlements with regulatory bodies.
Despite recovering some funds from the previous hack perpetrated by Avi Eisenberg, Mango Markets has struggled with its financial and reputational recovery, aggravating scrutiny from regulators.
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