According to BlockBeats news, on September 28, according to market news, the US SEC filed charges against the entity operating the cryptocurrency trading platform Mango Markets, accusing it of providing and selling the platform’s “MNGO” governance token without registration.

According to the SEC complaint, beginning in August 2021, Mango DAO, an alleged decentralized autonomous organization (DAO), and the Panamanian entity Blockworks Foundation engaged in unregistered offers and sales of MNGO tokens, the purported governance proxy of the Mango Markets platform. Coin) raised more than $70 million from hundreds of investors around the world, including the United States.

The SEC also alleges that since at least August 2021, Blockworks Foundation and Mango Labs have each operated as an unregistered broker-dealer, actively soliciting and recruiting Mango Markets users to trade securities; provide advice and valuations on the merits of investing in securities; and Help facilitate securities trading on the Mango Markets platform by assisting customers with account opening and regular processing of customer funds and securities.

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