SEC says Canton Coin is a digital commodity, clears limited token issuance

Canton Coin (CC) has received no-action relief from the U.S. Securities and Exchange Commission's staff, which classified the token as a digital commodity under its latest regulatory framework. The SEC's Division of Corporation Finance has classified Canton Coin as a digital commodity in a November 3 no-action letter. SEC staff will not recommend enforcement action over Canton Coin's programmatic issuance without securities registration under specified conditions. The decision cites Canton Network's lack of a central controlling party and the token's connection to network operations. The letter follows November 2 SEC guidance explaining decentralized governance, network control, and digital commodity classification.

Source: crypto.news