Will the CFTC Blot Out DeFi in the U.S.?

Former NYSE Broker to Pay $54M to Settle CFTC Crypto Fraud Charges

In its press release, the CFTC was specific about the labels it would have applied to the DeFi apps. Opyn, for instance, a type of decentralized insurance provider, should have had licenses for a “swap execution facility” (SEF) and “designated contract market” (DCM) as well as a “futures commission merchant” (FCM), the agency wrote.

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