Ooki DAO Default Judgment: Regulators Still Face Many Technical and Legal Challenges in Regulating Smart Contracts

The Commodity Futures Trading Commission (CFTC) won what it described as a “sweeping victory” in its case against Ooki DAO, in which the CFTC alleged that the decentralized autonomous organization (DAO) operated an illegal trading platform. Nonetheless, the CFTC’s victory represents only one aspect of the overall challenge, as the uncertainty of how and whether the CFTC will successfully enforce its judgment remains. This task is more complex than it appears, as the key attribute of Ooki DAO…
By: Kramer Levin Naftalis & Frankel LLP