Developers behind the decentralized crypto exchange Mango Markets are planning to relaunch the project despite the US Securities and Exchange Commission (SEC) alleging that the project’s native token, MNGO, is a security.
The SEC has not alleged wrongdoing by Mango, but last week it accused MNGO trader Avraham Eisenberg of securities market manipulation.
Securities lawyers have said that the SEC might be laying the groundwork to bring a case against the exchange that issued MNGO to its investors when it launched in 2021.
In a developer call on Sunday, Mango Markets founder Daffy Durairaj said that the SEC is looking at Mango v4’s launch, and that he doesn’t know exactly what they’re worried about, but it is something to be discussed.
