Nikhilesh De, CoinDesk’s managing editor for global policy and regulation, comes to talk about the CFTC lawsuit against Ooki DAO and the potential consequences across the crypto industry.
Show highlights:
- the enforcement action against Ooki DAO and the CFTC’s arguments behind it
- whether bZx’s statements that the DAO would be beyond the reach of regulators made it a target for the CFTC
- whether the broader implication of these charges could mean that all DeFi is illegal
- whether the hacks of bZx made it a high-profile target
- the CFTC Commissioner Summer Mersinger’s dissenting statement and her concerns
- who the targets of the CFTC enforcement action are
- the consequences of the lawsuit for token holders and how to determine which token holders are liable
- why the CFTC chose to post a notice in the Ooki DAO forum and whether that is sufficient notice
- what the next steps for DAO members are and whether there will be wide community support
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Nik
Previous Coverage of Unchained on regulation:
- Why Senator Pat Toomey Thinks SEC Chair Gary Gensler Is Wrong About Crypto
- Congressman Ro Khanna: How to Get More Democrats into Web3
- Why the Crypto Industry Believes SEC Regulation by Enforcement Hurts US Consumers
The lawsuit against Ooki DAO
- CFTC Filing
- $250,000 fine
- Nik’s article
- CFTC Commissioner Summer Mersinger’s dissenting statement
- Jake Chervinsky’s opinion
- Ooki DAO’s options
- CFTC serving the members of the Ooki DAO via their forum
Tim Copeland’s article on what’s next for DAOs