“The CFTC depends upon a razor-thin metaphysical distinction between the Ooki DAO and Ooki Protocol. In accordance with the CFTC, the Ooki Protocol is software program. In distinction, (per the CFTC) the Ooki DAO is ‘a bunch of customers of the Ooki Protocol who (a) selected to not incorporate, and (b) each held and truly voted governance tokens to take part within the enterprise of working the Ooki Protocol pursuant to particular, publicized governance protocols.’ The CFTC claims that it ‘is just not a novel proposition’ that people who use the identical software program could be deemed members of an unincorporated affiliation by advantage of that software program use. Not solely is that this a novel proposition, it’s unprecedented. It will probably shock Microsoft Phrase customers to study that modifying the identical doc as one other particular person is sufficient to type an unincorporated affiliation,” LeXpunK mentioned.