Ooki DAO lawyer: CFTC should identify individuals who violate federal law, rather than the DAO as an entity

ChainCatcher news, according to CoinDesk, regarding the lawsuit by the U.S. Commodity Futures Trading Commission (CFTC) against the margin trading lending protocol Ooki (formerly bZx) and its operating organization Ooki DAO, the legal service organization LeXpunK Army stated that regulators should identify individuals who violate federal law, rather than treating the DAO as an entity. A DAO is not a person and should not be considered as one; it is typically a collective that manages activities through voting with crypto tokens.

LeXpunK Army also believes that whether a DAO is an unincorporated association should be interpreted under federal regulations of the Commodity Exchange Act, rather than according to state laws. (CoinDesk)