Investing
Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC
A United States district judge has entered a default judgment order requiring Ooki DAO to permanently shut down and pay a civil monetary penalty of $643,542.
The Commodity Futures Trading Commission (CFTC) initially filed a lawsuit against Ooki DAO in September 2022, accusing the decentralized autonomous organization (DAO) of illegally offering retail margin and leverage trading services, and “unlawfully acting” as a futures commission merchant.
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