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Commodity Futures Trading Commission (CFTC) said June 9 It won a legal victory against Ooki DAO in a precedent-setting case.
Ian McGinley, director of enforcement for the CFTC, said:

“The founders created Ooki DAO with a clear purpose, and with the clear goal of operating an illegal trading platform without legal accountability.”

OKi DAO to be Shutdown, Pay $643K
The CFTC said that Ooki DAO will pay a civil penalty of $643,542. The DAO was also ordered to comply with permanent trading and registration restrictions.
Ooki Dao and third party-hosts will also be forced to shut down websites and remove online content.
The DAO was accused of illegally operating a trading platform and illegally acting as a futures commission merchant. It was intended as a successor to bZeroX, a similar leveraged and margin trading platform from the same co-founders.
Ooki Dao is a “person”
The CFTC also noted that courts have determined that the Ooki DAO is legally a “person” under the Commodity Exchange Act and held it liable as such.
The question of responsibility was an issue earlier. The CFTC first charged Ooki DAO members in September 2022 through the project’s forums, with key members raising funds for its defense. However, a judge ruled in December 2022 that only the original founders of Oki DAO should be charged as their identities were known.
DAOs, or Decentralized Autonomous Organizations, are groups that use cryptocurrency-based voting to make decisions. Decisions are often hard-coded to execute on the blockchain, being immune to outside influence once the vote is successful.
McGinley explicitly opposes the idea, warning other DAO organizers that this structure does not allow groups to be “insulated” from the law.