The CFTC sued Ooki DAO for failing to register under the Commodity Exchange Act and comply with KYC and AML obligations. The agency also attempted to serve the DAO through a website chat box and forum post.
DEF filed two briefs in 2022, first (on October 4) opposing the CFTC’s method of service as inconsistent with due-process requirements, and later (on November 21) warning that treating DAOs as unincorporated associations without precedent risks unintended consequences for decentralized governance.
Status: Default Judgement
Click here for the first brief.