Canton’s CC rises 4% as SEC staff view it as ‘digital commodity’
Summary
Canton Coin rose 4% after SEC Corporation Finance staff issued a no-action letter saying it views the token as a digital commodity and would not recommend enforcement over its issuance without securities registration, if Canton follows the described conditions. The staff accepted that CC’s value derives from network operations and token demand, rather than a central team’s profit-generating efforts. Digital Asset said participants earn tokens by operating network infrastructure and applications, with issuance tied to activity. The letter is not binding and does not settle CC’s legal status; securities laws may still apply to how tokens are offered or sold. CC traded at $0.098, though it remained down 4.2% for the week.
