🇺🇸 SEC staff have called Canton Coin (CC) a 'digital commodity' in a no-action letter issued Nov 3 — and said they won't recommend enforcement action over its programmatic minting without securities registration.
The letter, from the SEC's Division of Corporation Finance, answers an Oct 30 request from Digital Asset Holdings, the company behind the Canton Network. Staff said CC's value comes from the network's operation and supply and demand — not from the managerial efforts of others — and that Canton has no central party. It is a staff position, not a Commission vote, and it covers minting only, not secondary trading.
CC rose 4% on the news, trading near $0.0957 with a ~$3.9B market cap — still about 50% below its February high of $0.1943.
#SEC #CantonCoin #CryptoNews #CryptoRegulation #DigitalCommodity #Zimbuck
The letter, from the SEC's Division of Corporation Finance, answers an Oct 30 request from Digital Asset Holdings, the company behind the Canton Network. Staff said CC's value comes from the network's operation and supply and demand — not from the managerial efforts of others — and that Canton has no central party. It is a staff position, not a Commission vote, and it covers minting only, not secondary trading.
CC rose 4% on the news, trading near $0.0957 with a ~$3.9B market cap — still about 50% below its February high of $0.1943.
#SEC #CantonCoin #CryptoNews #CryptoRegulation #DigitalCommodity #Zimbuck
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