“The CFTC is not suing technology, as Amici claim: The CFTC’s action is not against the blockchain-based Ooki Protocol, but against the Ooki DAO — an association that acts and makes collective decisions regarding the Ooki Protocol through voting by its governance token holders,” the CFTC argued. “The factors Amici claim disqualify the Ooki DAO as an unincorporated association — variable membership over time, inconsistent voting by members, and different or divergent views and opinions among members — are nothing more than features of almost any unincorporated association (or other business entity, for that matter).”
