CFTC Targets DeFi Protocols Opyn, ZeroEx, and Deridex in Sweeping Crackdown

in cft •  last year 

CFTC Targets DeFi Protocols Opyn, ZeroEx, and Deridex in Sweeping Crackdown

The U.S. derivatives markets regulator Commodity Futures Trading Commission (CFTC) has charged three decentralized finance (DeFi) protocols, Opyn, Inc., ZeroEx (0x), Inc., and Deridex, Inc. with offering illegal derivatives trading.

According to an official statement released on Thursday, these allegations stem from the utilization of blockchain-based protocols and smart contracts by the three firms to function as trading platforms, a practice that the CFTC deems unlawful.

In response, the CFTC has issued cease-and-desist orders to Opyn, ZeroEx, and Deridex while imposing financial penalties.

Opyn faces a penalty of $250,000, ZeroEx $200,000, and Deridex $100,000. All three companies have chosen to accept these terms as part of a settlement to resolve the charges.

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