CFTC action against LLC and DAO

This is why we must be very cautious on how both a company legal entity as well as the DAO operates.

CFTC Imposes $250,000 Penalty Against bZeroX, LLC and Its Founders and Charges Successor Ooki DAO for Offering Illegal, Off-Exchange Digital-Asset Trading, Registration Violations, and Failing to Comply with Bank Secrecy Act

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Oof, does this open up all margin and leverage trading platforms to CFTC actions? There are a ton out there. I’d assume most of these platforms are going to block US IPs if they’re not already. I wonder if this one was already blocking US IPs.

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It would seem so. Not a lawyer or regulator but that’s my interpretation.

This is why I was very leery of any leverage and frankly even a DEX.

I wonder where our “YOU PROMISED A 5X LEVERAGE DEX” troll is right now…