CFTC urges court to enter a default judgment against Ooki DAO lawsuit
Key Points:Ooki DAO did not respond to a lawsuit. The CFTC now wants a federal judge who will determine whether it violated federal commodities regulations.
The agency sued the DAO for operating a unlicensed cryptocurrency futures trading platform, and failing to conduct adequate know-your customer checks.
The Court deemed the service of the Ooki DAO and Summons in this case complete on December 20, 2022.
The U.S. Commodity Futures Trading Commission is asking a federal court to rule that Ooki DAO failed to respond to ongoing litigation.
“Pursuant Rule 12(a),(1)(A(i), Ooki DAO’s response or other responsive pleadings to the Complaint were due on or before January 10, 20,23. The Summons and Rules instructed that the Ooki DAO answer or defend the Complaint.
Ooki DAO was sued in September by the CFTC for operating an unlicensed cryptocurrency futures trading platform. It also failed to conduct adequate know-your customer checks. Ooki DAO, which took over from bZeroX allegedly allowed individuals from the United States trade illegal crypto derivatives products. The CFTC reached a settlement last September with bZeroX, Kyle Kistner and Tom Bean, who founded the company. It also attempted to sue the entire DAO. The CFTC reached a settlement with bZeroX and the company’s founders, Tom Bean and Kyle Kistner in September last year. However, the CFTC also attempted to sue the entire DAO. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: bZeroXCFTCDAOooki dao