Unchained

Why the Ooki DAO Case Could Hurt Participation in DAOs - Ep. 402

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Nikhilesh De, CoinDesk's managing editor for global policy and regulation, comes to talk about the CFTC lawsuit against Ooki DAO and the potential consequences across the crypto industry. 

 

Show highlights:
  • the enforcement action against Ooki DAO and the CFTC’s arguments behind it
  • whether bZx’s statements that the DAO would be beyond the reach of regulators made it a target for the CFTC
  • whether the broader implication of these charges could mean that all DeFi is illegal
  • whether the hacks of bZx made it a high-profile target
  • the CFTC Commissioner Summer Mersinger's dissenting statement and her concerns
  • who the targets of the CFTC enforcement action are
  • the consequences of the lawsuit for token holders and how to determine which token holders are liable
  • why the CFTC chose to post a notice in the Ooki DAO forum and whether that is sufficient notice 
  • what the next steps for DAO members are and whether there will be wide community support
    • Thank you to our sponsors!

     

    1inch

    Crypto.com

     

    Nik

    Twitter 

     

    Previous Coverage of Unchained on regulation:
    • Why Senator Pat Toomey Thinks SEC Chair Gary Gensler Is Wrong About Crypto
    • Congressman Ro Khanna: How to Get More Democrats into Web3
    • Why the Crypto Industry Believes SEC Regulation by Enforcement Hurts US Consumers

      •  

       

      The lawsuit against Ooki DAO
      • CFTC Filing
      • $250,000 fine
      • Nik’s article
      • CFTC Commissioner Summer Mersinger’s dissenting statement
      • Jake Chervinsky’s opinion
      • Ooki DAO’s options
      • CFTC serving the members of the Ooki DAO via their forum
      • Tim Copeland’s article on what’s next for DAOs


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