CFTC Focuses on DeFi Platforms in Latest U.S. Crypto Crackdown
The U.S. Commodity Futures Trading Commission (CFTC) brought enforcement actions against three decentralized finance firms and signaled that more may be coming, Bloomberg News reported. The CFTC alleged on Thursday that the companies Opyn Inc., ZeroEx Inc. and Deridex Inc. broke the agency’s rules by illegally allowing US customers to trade digital-asset derivatives without registering. The regulator ordered the firms to cease and desist from violating CFTC rules and required them to pay civil penalties of $250,000, $200,000, and $100,000, respectively. None of the three companies admitted or denied the regulator’s allegations as part of their settlements. Will Warren, the co-founder and chief executive officer of ZeroEx, more commonly known as 0x, said in a statement that the company has implemented additional processes to better protect users after “constructive dialogue” with the CFTC. “We move forward toward the goal of furthering web3 adoption, and we will never stop building,” he said.
Monday, September 11, 2023