Commodity Futures Trading Commission v. Ooki DAO
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 COMMODITY FUTURES TRADING Case No. 3:22-cv-05416-WHO
COMMISSION,
8 Plaintiff, ORDER CONCLUDING THAT SERVICE HAS BEEN ACHIEVED v. Re: Dkt. Nos. 16, 22, 31,
OOKI DAO,
11 Defendant.
12 The Commodity Futures Trading Commission (“CFTC”) is a federal regulatory agency that administers and enforces the Commodity Exchange Act (“CEA”) and related regulations. Complaint (“Compl.”) [Dkt. No. 1] ¶ 10. The CFTC filed the underlying complaint in this action against Ooki DAO, a decentralized autonomous organization (“DAO”) that the CFTC alleges violated the CEA by enabling users to engage in retail commodity transactions without abiding by CEA requirements, including registering its “platform” and conducting certain customer due diligence. See id. ¶ 1. The CFTC contends that Ooki DAO was structured intentionally to render its activities “enforcement proof,” including by erecting significant obstacles to traditional service …