The CFTC, in the meantime, brought suit against Ooki DAO (formerly bZx Protocol) for illegally offering margin trading, which does explicitly needs proper licensure in the United States On the other hand, this suit doesn’t just target Ooki DAO’s founders-it likewise goes after everyone who participated in governance. The suit stated that all Ethereum (ETH) activity should be considered to have taken place on American soil and fall under the jurisdiction of its regulatory authorities because Ethereum (ETH) nodes are “most densely” located in the United States Never mind that the United States only holds 42 percent of Ethereum (ETH) nodes-the SEC has suggested that every transaction counts. The former regulating authority, in bringing suit against an ICO-era YouTuber who failed to disclose his crypto token holdings properly, made a truly head-spinning claim about ethereum (ETH) transactions. A proposed bill that would put a two-year ban on “endogenously collateralized stablecoins” notwithstanding, what set the space on fire was a pair of lawsuits from the country’s chief financial assets regulators-the SEC and CFTC. I’m sure I’m not alone because recent news regarding cryptocurrency regulation has shaken the space to its core.Īs we entered the autumn months of a year that’s been all as well cruel to this space, we were caught off guard last week by some bone-chilling developments in United States cryptocurrency regulation. Over the weekend, I did some pretty heavy thinking about future of the this industry, its underlying technology, and the social movement that has sprung up around it.
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