Mango Labs Cries Foul
In its June motion, Mango Labs argued the judgment unfairly restrains its ability to operate in the token market and imposes “one-sided restraints on speech.” The company claimed the timing of its settlement—just weeks before Donald Trump’s election and Paul Atkins’ appointment as SEC chair—left it bound by rules the agency has since abandoned.
“The same platform launched today under identical circumstances would not face SEC enforcement,” Mango Labs said, insisting it was unfairly punished for being “last in the door” before policy shifted.
SEC: A Deal Is a Deal
The SEC fired back that Mango Labs already reaped the benefit of avoiding litigation and the risks of losing at trial, which could have resulted in heavier penalties and stricter restrictions.
“Having gained the advantage of settlement, Mango Labs cannot now shed its obligations simply because the winds of policy have shifted,” the SEC wrote. Rule 60, the agency stressed, doesn’t cover “buyer’s remorse.”
