Mango Markets Considers Settlement With CFTC

According to PANews, decentralized cryptocurrency exchange Mango Markets is contemplating a settlement agreement with the U.S. Commodity Futures Trading Commission (CFTC), which would involve a $500,000 fine. The CFTC has accused the exchange of operating without registration as a commodity exchange, providing services to U.S. users illegally, and failing to conduct customer identity verification. This proposal requires approval from Mango Markets' governance token holders, and current voting results indicate a high likelihood of approval. Additionally, the agreement must be sanctioned by CFTC commissioners. Last month, Mango Markets reached a settlement with the U.S. Securities and Exchange Commission (SEC), agreeing to pay a fine of approximately $700,000.