CFTC can issue summons via Ooki DAO's help chat box, judge says
Federal judge says court ruling based on fact that CFTC actually served the Ooki DAO by providing the documents needed in his September 22 trial.
FollowThe U.S. Commodities Futures Trading Commission can serve members of the Decentralized Autonomous Organization Ooki, or DAO, with summonses through online communications, a federal judge has ruled.
In an October 3 order granting a motion to the CFTC, U.S. District Judge William Orrick said the commission could provide a copy of his summons and complaint through Ooki's help chat box DAO as well as an opinion on its online forum. The judge said the court's decision was based on the fact that the CFTC had indeed served the Ooki DAO by providing the necessary documents.
The CFTC filed a lawsuit against the Ooki DAO on September 22, alleging that the organization offered "illegal over-the-counter digital asset trading", violated registration guidelines, and violated the provisions of the bank secrecy law. The lawsuit was accompanied by similar charges against bZeroX and its founders, ordered to pay $250,000 as part of a civil monetary penalty.
Related: CFTC Files $1.7 Billion Bitcoin Fraud Complaint Against South African National
Ooki DAO members discussed how to respond to the CFTC lawsuit, suggesting allocating funds from the treasury to hire lawyers for DAO members, trying to gain support from the
Federal judge says court ruling based on fact that CFTC actually served the Ooki DAO by providing the documents needed in his September 22 trial.
FollowThe U.S. Commodities Futures Trading Commission can serve members of the Decentralized Autonomous Organization Ooki, or DAO, with summonses through online communications, a federal judge has ruled.
In an October 3 order granting a motion to the CFTC, U.S. District Judge William Orrick said the commission could provide a copy of his summons and complaint through Ooki's help chat box DAO as well as an opinion on its online forum. The judge said the court's decision was based on the fact that the CFTC had indeed served the Ooki DAO by providing the necessary documents.
The CFTC filed a lawsuit against the Ooki DAO on September 22, alleging that the organization offered "illegal over-the-counter digital asset trading", violated registration guidelines, and violated the provisions of the bank secrecy law. The lawsuit was accompanied by similar charges against bZeroX and its founders, ordered to pay $250,000 as part of a civil monetary penalty.
Related: CFTC Files $1.7 Billion Bitcoin Fraud Complaint Against South African National
Ooki DAO members discussed how to respond to the CFTC lawsuit, suggesting allocating funds from the treasury to hire lawyers for DAO members, trying to gain support from the
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