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Statement of CFTC Division of Enforcement Director Ian McGinley on the Ooki DAO Litigation Victory

The US Commodity Futures Trading Commission (CFTC) has won a default judgement against decentralised autonomous organisation Ooki DAO, which it charged with operating an illegal trading platform and unlawfully acting as a futures commission merchant. The court ordered the Ooki DAO to pay $643,542 in civil monetary penalties, imposed permanent trading and registration bans on the group and any third party providing web-hosting or domain-name registration services to it. It also ruled that the Ooki DAO is a "person" under the Commodity Exchange Act and can be held liable for violations of law.

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