Decentralized crypto exchange Mango Markets is facing charges from the Commodity Futures Trading Commission (CFTC) for failing to register as a commodities exchange, illegally offering services to U.S. customers, and not verifying customer identities. The exchange is proposing a settlement of a $500,000 fine with the CFTC, which must be approved by Mango Markets' governance token holders and the CFTC's commissioners. This comes after Mango Markets recently settled with the Securities and Exchange Commission for allegedly selling its governance token as an unregistered security. The exchange has previously experienced a multimillion-dollar hack and a market manipulation incident that resulted in financial losses and regulatory scrutiny. Mango DAO has incurred significant legal fees and costs related to its legal battles.



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