US SEC charges Mango Markets with offering unregistered crypto token

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission is seen at its headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo

(Reuters) - The U.S. Securities and Exchange Commission on Friday charged cryptocurrency trading platform Mango Markets with unregistered sales of its digital asset token, which the regulator identified as a security.

The SEC also settled charges against Mango Labs and Blockworks Foundation for failing to register as brokers, the agency said.

Jurors in federal court in Manhattan earlier this year convicted a crypto trader of commodities fraud for rigging the Mango Markets exchange and stealing about $110 million from the platform.

(Reporting by Hannah Lang in New York; editing by Jonathan Oatis)