SEC Staff Treat Canton Coin as a Digital Commodity, $CC Up 3%
• On Nov 3, the SEC's Division of Corporation Finance issued a no-action letter calling Canton Coin a digital commodity.
• Staff won't recommend enforcement over programmatic CC minting by validators and app providers, under the stated conditions.
• Reasoning: value comes from network operation and supply and demand, not a central party's efforts. It is not a final legal ruling.
• CC is near $0.097, +3.3% in 24h.
Verdict: Bullish
A real precedent for network tokens. I expect a retest of $0.0995 while CC holds above $0.0930.
Not financial advice. DYOR.
• On Nov 3, the SEC's Division of Corporation Finance issued a no-action letter calling Canton Coin a digital commodity.
• Staff won't recommend enforcement over programmatic CC minting by validators and app providers, under the stated conditions.
• Reasoning: value comes from network operation and supply and demand, not a central party's efforts. It is not a final legal ruling.
• CC is near $0.097, +3.3% in 24h.
Verdict: Bullish
A real precedent for network tokens. I expect a retest of $0.0995 while CC holds above $0.0930.
Not financial advice. DYOR.
