{"id":152156,"date":"2023-09-08T15:55:04","date_gmt":"2023-09-08T10:25:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=152156"},"modified":"2023-09-08T15:55:04","modified_gmt":"2023-09-08T10:25:04","slug":"cftc-charges-three-defi-projects-for-illegal-derivatives-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cftc-charges-three-defi-projects-for-illegal-derivatives-crypto-news\/","title":{"rendered":"CFTC charges three DeFi projects for illegal derivatives &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Commodities Futures Trading Commission (CFTC) charged three U.S.-based decentralized finance (DeFi) protocols \u2013 Opyn, ZeroEx and Deridex \u2013 on Thursday for omitting necessary registrations as a merchant and illegal offerings of digital asset commodities.<\/p>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/us-response-crypto-deer-caught-headlights-cftc-chair\/\">US response to crypto is like \u2018deer caught in headlights,\u2019 says ex-CFTC chair<\/a><\/p>\n<h2 class=\"wp-block-heading\">Fast facts<\/h2>\n<ul>\n<li>CFTC accused the projects of illegally offering \u201cleveraged and margined\u201d digital asset commodity transactions. Deridex and Opyn are charged with failing to register as a swap execution facility or a designated contract market, and as a futures commission merchant, according to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8774-23\">CFTC release<\/a>.<\/li>\n<li>The commission ordered Opyn, ZeroEx, and Deridex to pay penalties of US$250,000, US$200,000, and US$100,000, respectively, along with a cease and desist of operations in violation with CFTC rules.<\/li>\n<li>The projects have agreed to the penalties to settle the charges.<\/li>\n<li>\u201cSomewhere along the way, DeFi operators got the idea that unlawful transactions become lawful when facilitated by smart contracts,\u201d said CFTC director of enforcement Ian McGinley in the press release.\u00a0<\/li>\n<li>\u201cThey do not. The DeFi space may be novel, complex, and evolving, but the Division of Enforcement will continue to evolve with it and aggressively pursue those who operate unregistered platforms that allow U.S. persons to trade digital asset derivatives,\u201d McGinley said.<\/li>\n<\/ul>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/binance-cftc-regulatory-violations\/\">Binance, Zhao sued by CFTC for alleged regulatory violations<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Commodities Futures Trading Commission (CFTC) charged three U.S.-based decentralized finance (DeFi) protocols \u2013 Opyn, ZeroEx and Deridex \u2013 on Thursday for omitting necessary registrations as a merchant and illegal offerings of digital asset commodities. See related article: US response to crypto is like \u2018deer caught in headlights,\u2019 says ex-CFTC chair Fast facts CFTC accused [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":152157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-152156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=152156"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152156\/revisions"}],"predecessor-version":[{"id":152158,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152156\/revisions\/152158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/152157"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=152156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=152156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=152156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}