Lawyers say the CFTC’s recent enforcement action against Ooki DAO is a “wake-up call” for crypto founders who think decentralization makes protocols regulation-proof. cheyenneligon reports
, Bean and Kistner did not face any criminal charges at this time.
The CFTC seems to take particular issue with Bean and Kistner’s repeated representations of the DAO-ification of their protocol as something that would put it beyond the reach of regulators. Though, as an attorney, Dilendorf found the action predictable, he acknowledged that it might surprise DAO participants.
This issue was at the heart of a dissenting statement from CFTC Commissioner Summer Mersinger, who called the enforcement action “arbitrary and unfair.”
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