CFTC grants Kraken Derivatives no-action relief on DCM dormancy
CFTC DMO issued a time-limited no-action letter to Kraken Derivatives Exchange Inc. (formerly Small Exchange) regarding DCM dormancy procedures.
The relief extends prior no-action treatment for Kraken's DCM following its rebranding from Small Exchange. It signals continued CFTC accommodation of crypto-affiliated derivatives venues navigating relaunch and product listing timelines.
Relevant to firms operating or accessing US crypto-derivatives venues; indicates CFTC posture on venue continuity and dormancy compliance.
Action Required
Track precedent for DCM dormancy relief and assess implications for market access and product listing timelines.
Entity-specific but signals CFTC approach to dormant DCMs and crypto-linked venue expansion.
Note CFTC no-action relief for Kraken Derivatives Exchange on dormancy; review counterparty due diligence on DCM operational status; monitor conditions and expiry of no-action letter.
“CFTC Division of Market Oversight issued a time-limited no-action letter to Kraken Derivatives Exchange Inc., formerly Small Exchange Inc., addressing DCM dormancy procedures.”
Published: 2026-08-02