CFTC: DAO token voting could mean personal liability
December 07, 2022
A seemingly straightforward enforcement action by the Commodities Futures Trading Commission (CFTC) has attracted the attention of US regulators, large digital asset industry players and the crypto industry in general for its potential wide-reaching implications for DAO governance.
The CFTC pushed back on various amicus briefs filed by top industry participants in the digital asset space regarding the Ooki DAO enforcement action. The amicus briefs voiced concerns about the CFTC’s ongoing suit against the Ooki DAO; the suit is the first attempt to hold token holders of a decentralized autonomous organization (DAO) personally liable for the actions of the DAO merely by the holder’s participation in governance of the DAO.