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Decentralized Autonomous Organization (DAO) Commodities Futures Trading Commission Blockchain

Polsinelli

Blockchain+ Bi-Weekly: July 2024 #2

Polsinelli on

While the nation was preoccupied with the significant developments in the Presidential race, advocates and promoters of the blockchain ecosystem were particularly attentive to the news, given the perception that the current...more

Proskauer - Blockchain and the Law

From Code to Consequence: CFTC Obtains Default Judgment Against Ooki DAO for Commodity Exchange Act Violations

Unlike traditional corporate entities with a typical hierarchical structure, a decentralized autonomous organization (“DAO”) – a management structure that uses blockchain technology – functions as a leaderless entity. Without...more

Latham & Watkins LLP

What’s Next for DAOs in the Wake of the Ooki Decision?

Latham & Watkins LLP on

The viability of DAO structures draws attention after a judge declares that a decentralized autonomous organization is a “person” under the law. On June 8, 2023, the US District Court for the Northern District of...more

Kramer Levin Naftalis & Frankel LLP

Ooki DAO Default Judgment: Regulators Still Face Many Technical and Legal Challenges in Regulating Smart Contracts

The Commodity Futures Trading Commission (CFTC) won what it described as a “sweeping victory” in its case against Ooki DAO, in which the CFTC alleged that the decentralized autonomous organization (DAO) operated an illegal...more

BakerHostetler

CBDC Initiatives Advance in Colombia, Hong Kong; DOJ Charges Defendants in Mt. Gox Hack, BTC-e; CFTC Wins Ooki DAO Case; Crypto...

BakerHostetler on

CBDC Initiatives Advance in Colombia and Hong Kong - According to a recent press release, a major U.S. fintech company and “leader in enterprise blockchain and crypto solutions” has announced a collaboration with Colombia’s...more

Proskauer - Blockchain and the Law

DAO Deemed ‘General Partnership’ in Negligence Suit over Crypto Hack, Prompting Decentralized Orgs to Rethink Corporate Formation

In what appears to be an issue of first impression, a California district court ruled that various defendants allegedly holding governance tokens to the bZx DAO (or “Decentralized Autonomous Organization”), a protocol for...more

ArentFox Schiff

Service of Process in the Digital Age: Twitter, Blockchain, and Chatbox Valid Methods or Modern Nail & Mail?

ArentFox Schiff on

Courts across the United States are grappling with the application of traditional legal principles to "Web3” technologies and tools, such as blockchain, NFTs, and decentralized autonomous organizations (DAOs). Among other...more

ArentFox Schiff

Metaverse, Blockchain & Digital Assets: 10 Legal Challenges for Companies in 2023

ArentFox Schiff on

With the start of the new year, the ArentFox Schiff Metaverse Industry team reviews 10 of the most pressing legal issues for companies in 2023....more

A&O Shearman

CFTC Delivers Notice to Ooki Via Chat Box: Important Legal Questions for DAOs

A&O Shearman on

The United States District Court for the Northern District of California (the “Court”) recently held that a decentralized autonomous organization (DAO) could be served via its online forum. If upheld, this decision will have...more

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