The US CFTC imposed a $250,000 civil fine on the original control team of the bZx protocol and filed a lawsuit against Ooki DAO

The U.S. Commodity Futures Trading Commission (CFTC) issued a statement saying that it has filed a lawsuit against the defendant bZeroX (the original controlling team of bZx Protocol) and its founders Tom Bean and Kyle Kistner, alleging that it illegally provided leverage and margin retail commodity transactions in digital assets. , and engage in activities that only a registered Futures Commission Merchant (FCM) can carry out, and has failed to adopt a customer identification program as required by the FCM as part of its Bank Secrecy Act compliance program. The CFTC also requires the latter to pay a $250,000 civil penalty and cease further violations of the Commodity Exchange Act and CFTC regulations in accordance with the charges. On or about August 23, 2021, bZeroX transferred control of the bZx protocol to the bZx DAO, which subsequently changed its name and currently conducts business under the name Ooki DAO, the CFTC said. The CFTC filed a federal civil enforcement action against Ooki DAO in the U.S. District Court for the Northern District of California, alleging that Ooki DAO violated the same rules as above, and seeking damages, disgorgement, civil monetary penalties, and trading and registration injunctions.