Brian Armstrong, CEO of Coinbase, the largest US cryptocurrency exchange, has called on decentralized finance (DeFi) protocols to sue the CFTC so they can set a precedent.
Brian Armstrong September 13 a dated social media in the postUS Commodity Futures Trading Commission (CFTC) and called out DeFi protocols. regulatory body DeFi Arguing that sanctions should not be imposed against the protocols, Armstrong said that the current policy is wrong he emphasized.
DeFi protocols sanctioned by the CFTC to set an example these cases for the purpose take them to court recommended CEO, to the rule of law He reiterated his confidence:
The CFTC should not impose sanctions against decentralized finance (DeFi) protocols. These protocols are not financial services businesses, and it seems unlikely that the Commodity Exchange Act would apply to them. My wish is that sanctioned DeFi protocols take these cases to court to set a precedent. Courts have proven to be very keen on upholding the rule of law. The only thing that the current wrong policy has achieved is to push an important industry out of the country.
With this statement, Armstrong said DeFi protocols were sanctioned by the CFTC last week for offering illegal leveraged transactions. Opyn, ZeroEx (0x Protocol-ZRX) And He referred to Deridex. The regulatory body imposed fines on the protocols in question.