Page 25 - 期货和衍生品行业监管动态（2022年9月）
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期货和衍生品行业监管动态
same software protocol as bZeroX—with violating the same laws as the respondents.
The CFTC seeks restitution, disgorgement, civil monetary penalties, trading and
registration bans, and injunctions against further violations of the CEA and CFTC
regulations, as charged.
“ Today ’ s actions demonstrate the CFTC ’ s commitment to aggressively
pursuing individuals and their operations who purposefully seek to evade regulatory
oversight at the expense of retail customers,” said Chairman Rostin Behnam. “I
commend our dedicated enforcement team for pursuing this scheme which touches on
many areas of concern regarding this growing market.”
“These actions are part of the CFTC’s broader efforts to protect U.S. customers
in a rapidly evolving decentralized finance environment,” said Acting Director of
Enforcement Gretchen Lowe. “Margined, leveraged, or financed digital asset trading
offered to retail U.S. customers must occur on properly registered and regulated
exchanges in accordance with all applicable laws and regulations. These
requirements apply equally to entities with more traditional business structures as well
as to DAOs.”
Case Background
The order finds, and the complaint alleges, from approximately June 1, 2019 to
approximately August 23, 2021, the respondents designed, deployed, marketed, and
made solicitations concerning a blockchain-based software protocol that accepted
orders for and facilitated margined and leveraged retail commodity transactions
(functioning similarly to a trading platform). This protocol (the bZx Protocol)
permitted users to contribute margin (collateral) to open leveraged positions whose
ultimate value was determined by the price difference between two digital assets from
the time the position was established to the time it was closed. The bZx Protocol
purported to offer users the ability to engage in these transactions in a decentralized
environment—i.e., without third-party intermediaries taking custody of user assets.
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