CFTC Cracks Whip On DeFi Protocols, Fines Opyn, 0x, And Deridex
Tech CFTC Cracks Whip On DeFi Protocols, Fines Opyn, 0x, And Deridex Berita Bitcoin Ethereum The United States Commodity Futures Trading Commission (CFTC) has initiated regulatory action against three major decentralized finance (DeFi) protocols, Opyn, 0x, and Deridex. The commodities regulator has handed out hefty fines of $250,000, $200,000, and $100,000, respectively, on the three protocols. Commodity Futures Trading Commission Swings Into Action Regulatory action against the three decentralized finance protocols was taken after they allegedly failed to register various derivatives trading offerings, with the CFTC charging them with illegal digital asset derivatives trading. The CFTC announced that it had issued orders against Opyn, 0x, and Deridex in a statement released on the 8th of September. More specifically, 0x was charged by the CFTC for a token issued by a third party that was not affiliated with the protocol. This third part provided traders a 2:1 leveraged exposure to digital assets such as Bitcoin and ETH. Meanwhile, Opyn and Deridex were charged for failing to register as a swap execution facility or a designated contract market and also failing to register as a futures commodity merchant. Additionally, the two protocols failed to comply with customer provisions set out in the Bank Secrecy Act. The three firms were