CTFC cracks down on DeFi protocols Opyn, ZeroEx and Deridex

Deridex and Opyn were charged for stopping working to register as a swap execution facility or designated contract market and failing to sign up as a futures commission merchant. McGinley included:” The DeFi space might be unique, complicated, and progressing, but the Division of Enforcement will continue to evolve with it and strongly pursue those who operate unregistered platforms that permit U.S. individuals to trade digital asset derivatives.” Related: CFTC commissioner calls for crypto regulatory pilot programNot everyone was pleased with the CFTCs orders.Bankless co-host Ryan Sean Adams identified the CFTCs enforcement action as another attack on DeFi.Opyn, ZeroEx, and Deridex all struck by the CFTC.Another attack on DeFi by United States regulators.They actually are attempting to make America lose the crypto opportunity.

Opyn is a DeFi financial investment strategy platform which currently has $23 million in overall volume locked on its protocol, while ZeroEx is an Ethereum-based decentralized exchange.Deridex was an Algorand-powered derivatives platform. The job quickly shutdown in Feburary, triggering its TVL to fall from about $150,000 to $133 as of Sept. 8, according to DefiLlama.Change in overall volume locked on Deridex in 2023. Source: DefiLlamaMagazine: Crypto guideline: Does SEC Chair Gary Gensler have the last word?

The United States Product Futures Trading Commission (CFTC) is taking regulative action versus three decentralized financing procedures for apparently stopping working to register different derivatives trading offerings.The U.S. commodities regulator announced that it provided orders against protocol Opyn, ZeroEx and Deridex in a Sept. 8 statement.Today @CFTC issued orders versus operators of three DeFi procedures for offering unlawful digital asset derivatives trading. Discover more: https://t.co/7YDbgC1Xl2— CFTC (@CFTC) September 7, 2023