SEC Staff Calls Canton Coin a Digital Commodity, Conditions Enforcement Position
Photo: TokenPost
The SEC's Division of Corporation Finance said Canton Coin (CC), the native token of Canton Network, is a digital commodity and that staff would not recommend enforcement over its programmatic distributions if specified conditions are met. The position is conditional on those requirements. The division linked its view to CC's close connection with Canton Network's programmatic operation. It said the token's value comes from network operation and supply and demand, rather than an expectation of profit based on the essential managerial efforts of others. Staff also said the network has no centralized controlling party.
Also reported by Coinotag.
Source: TokenPost
