The SEC's Division of Corporation Finance believes Canton Coin qualifies as a digital commodity

The U.S. Securities and Exchange Commission (SEC)'s Division of Corporation Finance has issued a no-action letter stating that it considers Canton Coin (CC), the native token of Canton Network, to be a "digital commodity." Subject to certain conditions, the division will not recommend enforcement action against the programmatic issuance of CC. The division stated that CC is closely tied to the programmatic operation of Canton Network, and that its value derives from the network's operation and supply-demand dynamics rather than from expectations of profits from the core managerial efforts of others; the network has no centralized controlling party. Canton Network subsequently cited the contents of the aforementioned no-action letter.