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CFTC Bypassed Legal Requirement in Trying To Serve Ooki DAO, Crypto Supporters Claim

1 min read Original Link

The Commodity Futures Trading Commission (CFTC) is trying to “create [a] novel precedent” for itself in trying to serve a lawsuit to the entirety of a decentralized autonomous organization (DAO), rather than the DAO’s members, one of three filings pushing back against the agency’s lawsuit said.

The filings, published Monday, are responses to the CFTC’s earlier pushback against the amicus briefs filed by crypto legal consortium LeXpunK, venture capital firms Andreessen Horowitz and Paradigm, and the DeFi Education Fund.

The CFTC sued Ooki DAO in September, alleging the organization illegally offered crypto derivatives products to U.S. customers. The CFTC made similar allegations with bZeroX, a company that acted as a predecessor to the DAO.

(by Nikhilesh De and Cheyenne Ligon)


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