The Commodity Futures Trading Commission has issued an order filing and settling charges against blockchain software protocol bZeroX and its founders, the CFTC announced in a press release Thursday.
The order penalizes the protocol and its founders Tom Bean and Kyle Kistner $250,000 for offering illegal, off-exchange trading of digital assets, registration violations and neglecting to adopt a customer ID program required by the Bank Secrecy Act compliance program.
The CFTC has simultaneously filed a civil enforcement action charging the Ooki DAO, the successor to bZeroX, with violating the same laws as bZeroX. It seeks restitution, disgorgement, civil monetary penalties, trading and registration bans and injunctions against further violations.
“These actions are part of the CFTC’s broader efforts to protect U.S. customers in a rapidly evolving decentralized finance environment,” said Acting Director of Enforcement Gretchen Lowe in a statement. “Margined, leveraged, or financed...
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