In CoinDesk and Yahoo Finance Glen Chen Discusses CFTC Enforcement Action Against Ooki DAO

In The News
September 26, 2022

In a CoinDesk and Yahoo Finance article, asset management counsel Glen Chen discussed the Commodity Futures Trading Commission enforcement action against Ooki DAO, a decentralized autonomous organization, charged with operating an unregistered futures commission merchant and failing to meet Bank Secrecy Act requirement for gathering customer information.

Glen notes the fact that the first real enforcement action brought against an unincorporated DAO was by the CFTC, rather than the Securities and Exchange Commission, is somewhat surprising as the CFTC has generally been viewed as being less aggressive in bringing enforcement actions against participants in the digital asset space than the SEC.