Mango Markets plans to hire DAO representative to handle US regulatory issues

Decentralized exchange Mango Markets is recruiting new representatives in response to ongoing scrutiny from U.S. regulators. According to a proposal from the Mango Governance Forum, its DAO plans to approve a $250,000 USDC token budget. The funds will be used to hire a representative to address inquiries from "a number of regulatory agencies" regarding Mango Markets. Once the proposal is approved, MangoDAO will be represented by Polish company Cyberbyte for a one-year term. The company is owned by cryptocurrency developer Adrian Brzeziński, who is also a contributor to Mango Markets, and the representative’s responsibilities include hiring legal counsel and promoting “amicable resolutions of U.S. regulatory issues.” (Cointelegraph)