Saturday, June 22, 2024

Crypto DAOs Attacked by CFTC

By DAC000 , in DAO DeFi , at September 25, 2022 Tags: , ,

According to multiple news reports over the past three days. About a two minute read.

Comment: this took a couple days to report because of the intensity of coverage breathtaking overreach by The US. I view this as warning shot by CFTC, one that will result in key changes to indemnify DAO token holders from liabilities noted by these agencies actions. Clearly The US can’t be at the forefront of DeFi while also insisting it adhere to legacy regulation. CFTC will back down because protocols will adapt.

Oh yeh, I’m active in several DAOs, its not clear to me how ownership of tokens can be traced back to a specific IRL identity. Likely it can’t be.