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News Feed - 2023-09-08 08:09:54

Brayden Lindrea21 minutes agoCTFC cracks down on DeFi protocols Opyn, ZeroEx and DeridexThe commodities regulator handed out fines of $250,000, $200,000, and $100,000 respectively to the three firms in addition to cease and desist orders.94 Total views1 Total sharesListen to article 0:00NewsJoin us on social networksThe United States Commodity Futures Trading Commission (CFTC) is taking regulatory action against three decentralized finance protocols for allegedly failing to register various derivatives trading offerings.


The U.S. commodities regulator announced that it issued orders against protocol Opyn, ZeroEx and Deridex in a Sept. 8 statement.Today @CFTC issued orders against operators of three DeFi protocols for offering illegal digital asset derivatives trading. Learn more: https://t.co/7YDbgC1Xl2— CFTC (@CFTC) September 7, 2023


Deridex and Opyn were charged for failing to register as a swap execution facility or designated contract market and failing to register as a futures commission merchant. The two protocols also failed to comply with customer provisions set out in the Bank Secrecy Act, the CFTC said.


Related:CFTC commissioner calls for crypto regulatory pilot program


All three firms were also charged with illegally offering leveraged and margined retail commodity transactions in digital assets.


The CFTC"s orders oblige Opyn, ZeroEx, and Deridex to pay penalties of $250,000, $200,000, and $100,000, respectively, and to cease and desist from violating the Commodity Exchange Act and the CFTC"s regulations.


Magazine:Crypto regulation: Does SEC Chair Gary Gensler have the final say?


This is a developing story, and further information will be added as it becomes available.# Derivatives# DeFi# RegulationAdd reactionAdd reactionRead moreHow to earn passive income with peer-to-peer lendingCrypto VC: Risk and investment strategies with Shima CapitalRon DeSantis’ falling polls: Could crypto lose its candidate?

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