When will Ooki Dao respond to CFTC lawsuit?

The CFTC, which sued Ooki DAO last year on charges of running an unregistered crypto futures trading facility and failing to conduct proper know-your-customer checks, argued in a filing Wednesday that the date for the DAO to respond – Jan. 10, 2023 – had come and gone, and said the court should enter a default judgment against the group.

Can the Dao be held liable under the CFTC?

The judge cautioned that he was not ruling on the merits of the CFTC’s allegations – including its fundamental contention that the DAO can be held liable under the Commodity Exchange Act as an unincorporated association – but held that the government had adequately established a threshold right to sue the collective.

Did the Dao properly serve token holders with a lawsuit?

A judge ruled last month the agency had properly served the DAO after two token holders were served with the lawsuit. The U.S. Commodity Futures Trading Commission in Washington, D.C. (Jesse Hamilton/CoinDesk) May 29-31, 2024 - Austin, Texas The biggest and most established global hub for everything crypto, blockchain and Web3. Register Now

Did the CFTC choose to capture all token holders?

So the fact the CFTC did indeed choose to go the route that it did should not be a total surprise. But, of course, it’s going to be controversial. CFTC Commissioner Summer Mersinger explained her disagreement with the CFTC’s chosen path in a dissent, but added in a footnote that merely capturing all token holders is also not ideal.