SEC staff treat Canton Coin as a digital commodity in no-action letter
The SEC's Division of Corporation Finance said it views Canton Coin as a digital commodity and will not recommend enforcement over the token's programmatic minting by super validators, validators and app providers, subject to conditions. Staff reasoned that the token's value stems from the network's automated operation and market demand rather than a central team's efforts. The letter stops short of a formal finding on securities status. Canton Network is developed by Digital Asset.