{"id":84191,"date":"2023-09-08T12:24:05","date_gmt":"2023-09-08T09:24:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84191"},"modified":"2025-09-12T15:51:08","modified_gmt":"2025-09-12T12:51:08","slug":"cftc-files-lawsuits-against-three-defi-projects","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cftc-files-lawsuits-against-three-defi-projects\/","title":{"rendered":"CFTC files lawsuits against three DeFi projects"},"content":{"rendered":"<p>The U.S. Commodity Futures Trading Commission (CFTC) <a href=\\\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8774-23\\\">\u043f\u043e\u0434\u0430\u043b\u0430<\/a> lawsuits against three DeFi companies \u2014 Opyn, ZeroEx and Deridex \u2014 for unlawful trading of derivatives and operating without a licence.<\/p>\n<p>According to the agency, all firms are charged with \u201cusing blockchain-based and smart-contract-based protocols to operate as trading platforms.\u201d<\/p>\n<p>They were also accused of unlawfully offering retail commodity contracts and margin trading with borrowed funds in digital assets, the CFTC emphasised.<\/p>\n<p>Opyn, ZeroEx and Deridex will pay fines of $250 000, $200 000 and $100 000 respectively. The companies agreed to these terms to settle the claims.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSomewhere in the DeFi process, operators realised that illicit transactions become legitimate if they are facilitated by smart contracts,\u201d said CFTC enforcement director Ian McGinley.<\/p>\n<\/blockquote>\n<p>The regulator is closest to ZeroEx, based in California. In 2021 the agency <a href=\\\"https:\/\/www.coindesk.com\/markets\/2021\/04\/29\/cftc-appoints-former-dex-lawyer-as-head-of-fintech-wing\/\\\">hired<\/a> former project lawyer Jason Somensatto to head the fintech research division.<\/p>\n<p>But not everyone at the Commission agreed with the ruling.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere is nothing in these cases indicating that customer funds were unlawfully appropriated or that any market participants were harmed by DeFi protocols. I am concerned that the Commission in these cases is taking another step along the path of coercive measures, whereas we should engage with the public,\u201d said Commissioner Summer Mersinger.<\/p>\n<\/blockquote>\n<p>As reported on March 27, 2023, the CFTC <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-files-suit-against-binance-and-changpeng-zhao\">\u043e\u0431\u0432\u0438\u043d\u0438\u043b\u0430<\/a> the Binance exchange of violating derivatives trading rules and operating without a licence. The agency also claimed that its clients included sanctioned individuals.<\/p>\n<p>Earlier, the CFTC <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-chief-says-binance-deliberately-violated-regulators-rules\">\u0437\u0430\u044f\u0432\u043b\u044f\u043b\u0438<\/a> that Binance intentionally violated the rules. In response to the allegations, Binance CEO Changpeng Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-calls-cftc-lawsuit-unexpected-and-disappointing\">\u043e\u0442\u043c\u0435\u0442\u0438\u043b<\/a> that the Commission&#8217;s claims contain an \u201cincomplete account of the facts.\u201d In addition, he <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-criticises-mandatory-cryptocurrency-regulation\">\u043e\u0441\u0443\u0434\u0438\u043b<\/a> \u201ccoercive crypto-regulation\u201d by regulators.<\/p>\n<p>In July Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-files-motion-to-dismiss-cftc-lawsuit\">\u043f\u043e\u0434\u0430\u043b\u0430 \u0445\u043e\u0434\u0430\u0442\u0430\u0439\u0441\u0442\u0432\u043e<\/a> \u043e\u0431 \u043e\u0442\u043a\u043b\u043e\u043d\u0435\u043d\u0438\u0438 \u0438\u0441\u043a\u0430 CFTC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Commodity Futures Trading Commission (CFTC) filed lawsuits against three DeFi companies \u2014 Opyn, ZeroEx and Deridex \u2014 for unlawful trading of derivatives and operating without a licence.<\/p>\n","protected":false},"author":1,"featured_media":84192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[879,1162],"class_list":["post-84191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cftc","tag-court-cases"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=84191"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84191\/revisions"}],"predecessor-version":[{"id":84193,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/84191\/revisions\/84193"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/84192"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=84191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=84191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=84191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}