Coin

<ul class="news-points"> 
 <li>CFTC takes enforcement actions against three DeFi protocols: Opyn, ZeroEx, and Deridex.</li> 
 <li>Accusations include offering leveraged and margined retail commodity transactions in digital assets.</li> 
 <li>Securities lawyer Gabriel Shapiro advises DeFi operators to block the U.S. due to CFTC’s regulatory stance.</li> 
</ul> 
The Commodity Futures Trading Commission (CFTC) recently took enforcement actions against Opyn, ZeroEx, and Deridex, sending a stern message to the <a href="https://coinedition.com/what-is-defi-lets-understand-decentralized-finance/" rel="noopener noreferrer nofollow">decentralized finance (DeFi)</a> community. 
Opyn, Inc., headquartered in California, ZeroEx, Inc. of California, and Deridex, Inc. based in North Carolina, all Delaware-registered entities, were all accused of offering leveraged and margined retail commodity transactions in digital assets. Furthermore, Deridex and Opyn face additional charges for failure to register with the CFTC and adopt customer identification programs. 
According to an official <a href="https://www.cftc.gov/PressRoom/PressReleases/8774-23" target="_blank" rel="noopener noreferrer nofollow">statement</a> released on September 7, these activities were conducted within the realm of blockchain-based software protocols and smart contracts, which operate under the DeFi umbrella. 
The CFTC’s orders require the three DeFi protocols to pay civil monetary penalties. Opyn faces … 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/cftc-charges-opyn-zeroex-and-deridex-are-defi-activities-illegal/">CFTC Charges Opyn, ZeroEx, and Deridex — Are DeFi Activities Illegal?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

CFTC Charges Opyn, ZeroEx, and Deridex — Are DeFi Activities Illegal?

Coin Edition

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