Decentralized crypto exchange Mango Markets is considering reaching a $500,000 settlement with the U.S. Commodity Futures Trading Commission (CFTC). The exchange faces CFTC charges for not registering as a commodities exchange, illegally providing services to U.S. users, and failing to authenticate customers. Mango Markets' legal representative proposed to avoid litigation by paying a fine, but did not admit or deny any wrongdoing.
The proposal needs to be voted on by Mango Markets' governance token holder, MNGO, and the current results show that it is likely to be approved. In addition, CFTC commissioners also need to approve the agreement. Previously, Mango Markets also reached a settlement with the Securities Exchange Commission (SEC) and paid a fine of about $700,000.
Mango Markets to reach $500,000 settlement with CFTC, subject to community vote
2024-09-23 22:30:38
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