The U.S. Commodity Futures Trading Commission (CFTC) won the Ooki DAO case, which could set a precedent for DAO (decentralized autonomous organization) cases.
According to a court document issued by the District Court of California on June 8, US District Judge William H. Orrickblockchain software protocol by CFTC bZerox under the management To Ooki DAO in the futures market unlicensed activity show and non-compliance with money laundering procedures in the case of accusations regulator got it right.
Ooki DAO’s activities in the USA stop order and including companies operating outside the United States. Registered with the CFTC any with the establishment doing business prohibited. Ooki DAO also 643 thousand dollar fined.
CFTC Enforcement Director Ian McGinley Ooki founders’ DAO from legal responsibilities avoiding illegal claimed to have established it with the aim of running a trading platform. Director, your decision DAO its structure by adopting from the law what they can avoid for all actors who believe warning stated that it should be.
on the other hand ooki numerous court proceedings on behalf of amicus briefing (expert report), of DAOs singular treated as an asset not received and that the DAO’s litigation of all its members detecting and summoning had stated that it was necessary.
At this point, the decision DAOs can be opened about future for possible lawsuits. risk allegedly constituted. One of the cases of Ooki to the DAO open against first case litigation against other DAOs. setting a precedent underlined what you can do.
The DAO filed the lawsuit last January. answer designated for deadline kidnapped CFTC judge himself in favor requested a decision, but the request had been rejected.
The Ooki DAO never settled the case. official aspect not to answer and his activities in the United States after the trial, although he denied the accusations. had limited.