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【The US SEC accused Mango DAO and Blockworks Foundation of illegally selling MNGO tokens. Both parties will pay a fine of US$700,000 and stop MNGO-related activities】 September 28, according to official news, the U.S. Securities and Exchange Commission (SEC) today filed settlement charges against Mango DAO and Blockworks Foundation, accusing them of participating in the unregistered offering and sale of "MNGO" token crypto assets.The SEC also filed settlement charges against Blockworks Foundation and Mango Labs LLC, accusing them of participating in unregistered brokerage activities involving the offering and sale of various crypto assets as securities on the Mango Markets platform.According to the SEC's complaint, starting in August 2021, Mango DAO, a purported decentralized autonomous organization (DAO), and the Panamanian entity Blockworks Foundation raised more than $70 million from hundreds of investors around the world, including the United States, through unregistered offers and sales of MNGO tokens (the so-called governance tokens of the Mango Markets platform). The two entities ultimately agreed to a settlement with the SEC, accepting its injunction and order, jointly paying a civil penalty of nearly $700,000, and destroying their MNGO tokens, removing MNGO tokens from trading platforms, and no longer soliciting any trading platform to allow the trading, offering or sale of MNGO.
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