Shortly
before
that
trial,
CoinDesk
reported
that
Mango
Markets
faced
a
“regulatory
inquiry.”
The
proposal
aired
Monday
revealed
some
of
the
contours
of
that
probe.
In
addition
to
the
SEC,
Mango
Markets
is
being
investigated
by
the
Department
of
Justice
and
the
Commodity
and
Futures
Trading
Commission.
Only
the
SEC’s
investigation
is
at
issue
in
Monday’s
proposed
settlement
offer.
According
to
the
proposal,
Mango
DAO
is
facing
allegations
it
sold
an
unregistered
security.
Mango
Labs,
the
developer
of
Mango
Markets,
is
facing
charges
it
acted
as
an
unlicensed
broker.
A
related
entity,
Blockworks
Foundation
(not
the
media
group),
also
is
staring
at
similar
claims
from
regulators.