The Commodity Futures Trading Commission (CFTC) has submitted a motion for default judgment against Ooki DAO in the California Northern District Court.
The motion, filed on April 7, 2023, makes it clear that the CFTC requests that the Court award a permanent injunction, civil monetary penalties, and an order to remove the Ooki DAO website from the public domain.
The CFTC notes that Ooki DAO violated three separate provisions of the Act and Regulations. Thus, according to the regulator, the Court should impose three times the per-violation CMP—i.e., three times $214,514, or a total of $643,542. This fine, the CFTC says, is warranted to punish and deter future similar misconduct by the Ooki DAO and similarly situated entities.
In September 2022, the CFTC filed a federal civil enforcement action charging the Ooki DAO—a decentralized…
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