A federal judge has sided with the U.S. Commodity Futures Trading Commission (CFTC) in a lawsuit alleging decentralized autonomous organization (DAO) Ooki DAO offered unregistered commodities, quashing an industry-wide perception that decentralized finance (DeFi) actors are immune to regulatory scrutiny. U.S. District Judge William H. Orrick ruled on Thursday that Ooki DAO operated an illegal trading platform and unlawfully acted as an unregistered futures commission merchant (FCM), granting the CFTC a default judgment. The original lawsuit, filed in the U.S. District Court for the Northern District of California last September.
Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!
Android: https://links.hashd.co/android
Comments