Mango Market's DAO has established a $250,000 budget to handle inquiries from United States regulators.
Decentralized exchange Mango Markets is recruiting new resources to handle the ongoing scrutiny from United States regulatory authorities.
As per a proposal on Mango’s governance forum, the decentralized autonomous organization running the exchange plans to approve a budget of $250,000 in USD Coin (USDC) on Jan. 6. The fund will be allocated for hiring a representative tasked with addressing inquiries from “some regulators” concerning Mango Markets.
Upon approval, MangoDAO will be represented by Poland-based company Cyberbyte with a one-year term. The company is owned by crypto developer Adrian Brzeziński, who is also a contributor to Mango Markets. The representative's responsibilities include hiring legal counsel and facilitating “amicable resolutions to the U.S. regulatory matters.”
