- The meeting will take place on July 18
- The crypto industry previously criticized the regulator for pursuing DAO
The Commodity Futures Trading Commission (CFTC) is preparing a consultation on decentralized finance. It is organized by a special committee on technology (CFTC’s Technology Advisory Committee). The meeting will be held July 18 at headquarters in Washington, D.C.
FTC Commissioner Christy Goldsmith commented on the meeting agenda:
“Decentralized finance (DeFi) models, such as the decentralized autonomous organization (DAO) and the recent Ooki DAO case, will be discussed, as well as other DeFi issues”
The cryptocurrency industry has previously publicly criticized the CFTC for exceeding authority. The Commission filed charges against Ooki DAO in a lawsuit against the blockchain software protocol bZeroX.
CFTC fined bZeroX and its founders $250,000. The project is accused of offering “illegal over-the-counter trading of digital assets”. As well as the lack of registration and non-compliance with the requirements of futures trading. The CFTC then filed a civil lawsuit accusing the Ooki DAO of being a “successor to bZeroX.”
This is the first-ever lawsuit against a DAO.
Isla MacKenzie
Isla MacKenzie covers Web3 culture, NFTs and the metaverse from Edinburgh. A former product writer at Sky and CodeBase, she has been on the BTCNews team since 2022 and runs our weekly Creators newsletter. Isla studied Digital Humanities at the University of Edinburgh and was named one of CityAM's '30 Under 30 in Crypto' in 2024. She writes about culture without losing sight of the underlying tech.