CFTC Ruling Shows DAO Status Isn’t a Shield

CFTC is pretty stoked about its win in the Ooki DAO case, slapping a hefty fine on them. Meanwhile, over in Europe, there’s chatter about how to handle DeFi regulations. According to the CFTC, a U.S. District Judge recently ruled that a decentralized autonomous organization (DAO) can be treated like a "person". This is a big deal as it sets a major precedent for how Web3 will be regulated in the U.S. The CFTC is celebrating its victory in the Ooki DAO case, which resulted in a six-figure penalty. Back on June 9, 2023, Judge William H. Orrick determined that Ooki DAO broke the law by running an illegal trading platform and functioning as a futures commission merchant.