Home Cryptocurrency SEC sues Eisenberg for depleting mango markets, claiming MNGO is a security

SEC sues Eisenberg for depleting mango markets, claiming MNGO is a security

by SuperiorInvest

In this case, the agency said that despite labeling MNGO as a “governance token,” it was “bought and sold as a crypto asset security.” Its holders expected a profit and “entered into a joint enterprise”—two of the factors the SEC looks for in identifying investment contracts that fall under the securities laws. And MNGO holders can use their tokens to vote in decisions that govern Mango Markets operations, the agency said.

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