The CFTC found Kraken violated the Commodities Exchange Act by offering margined crypto products between June 2020 and June 2021 without registering as a Designated Contract Market (DCM) or FCM. Entities hoping to list or trade futures products must register as an FCM, while a DCM license is needed to offer futures products.
Kraken to Pay $1.25M Fine After Settling Charges With CFTC — CoinDesk
