Penalty from CFTC to Blockchain Software Protocol bZerox and its Governing DAO

The U.S. Commodity Futures Trading Commission (CFTC) penalized blockchain software protocol bZerox for failing to meet its required responsibilities and sued the Ooki DAO under its management.

CFTC September 22 in a statement on its official website on bZerox to its founders, countering black money and terrorist financing (AML) did not comply with the necessary protocols and unlicensed futures desk He announced that he had to pay a fine for establishing them.

Institution, bZeroX founders Tom Bean and by Kyle Kistner license, AML and know your customer (KYC) for violations of protocols $250,000 decided to pay a fine. He is also involved in the management of bZeroX. Ooki DAO with the founders from the same violations demanded similar penalties and filed a lawsuit.

At this point, the President of the CFTC Rostin Benham On the subject, this action is out of the regulation of the CFTC. deliberately trying to escape He stated that he showed his determination to follow the organizations.

Acting Director Gretchen Lowe and that DAOs, like all other organizations, are subject to the law, and That DAOs cannot be used to get around the law stated.

On the other hand, CTFC commissioner Summer Mersinger Commission’s intervention incorrect found it and issued a denial. In his statements he agreed that violations should be punished, but that the defendants were chosen arbitrarily and this decision in the future. may undermine the public interest. stated.

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