The USA Commodity Futures Buying and selling Fee (CFTC) is taking regulatory motion towards three decentralized finance protocols for allegedly failing to register numerous derivatives buying and selling choices.
The U.S. commodities regulator introduced that it issued orders towards protocol Opyn, ZeroEx and Deridex in a Sept. 8 assertion.
At present @CFTC issued orders towards operators of three DeFi protocols for providing unlawful digital asset derivatives buying and selling. Be taught extra: https://t.co/7YDbgC1Xl2
— CFTC (@CFTC) September 7, 2023
Deridex and Opyn have been charged for failing to register as a swap execution facility or designated contract market and failing to register as a futures fee service provider. The 2 protocols additionally didn’t adjust to buyer provisions set out within the Financial institution Secrecy Act, the CFTC stated.
Associated: CFTC commissioner requires crypto regulatory pilot program
All three companies have been additionally charged with illegally providing leveraged and margined retail commodity transactions in digital belongings.
The CFTC’s orders oblige Opyn, ZeroEx, and Deridex to pay penalties of $250,000, $200,000, and $100,000, respectively, and to stop and desist from violating the Commodity Alternate Act and the CFTC’s rules.
Journal: Crypto regulation: Does SEC Chair Gary Gensler have the ultimate say?
This can be a growing story, and additional info might be added because it turns into out there.