#The SEC just labeled another coin a “digital commodity”—and the market barely reacted
Canton Coin rose 4% on Wednesday after the SEC issued a no-action letter saying it qualifies as a “digital commodity,” not a security. The reasoning: the network “has no centralized controlling party.”
Here’s the interesting part: Canton Network is permissioned, and people in the crypto world generally don’t even consider it a real crypto project. Yet it’s the one that got the commodity stamp first.
I checked the markets, and things are ice-cold. $BTC is trading at 78,362 USDT, up just 1.3% in 24 hours; $ETH is at 2,318 USDT, up 1.7%; $SOL is at 92.7 USDT and has actually turned lower. Even old-timers like ADA are going nowhere.
Put simply, the SEC has handed out “digital commodity” labels one after another over the past six months, and the market is already numb to it. Last time, people rushed in, treating it as bullish news. This time, there’s barely even any discussion. So what do you think—is this a case of the bullish news already being priced in, or the beginning of genuine regulatory easing?
Canton Coin rose 4% on Wednesday after the SEC issued a no-action letter saying it qualifies as a “digital commodity,” not a security. The reasoning: the network “has no centralized controlling party.”
Here’s the interesting part: Canton Network is permissioned, and people in the crypto world generally don’t even consider it a real crypto project. Yet it’s the one that got the commodity stamp first.
I checked the markets, and things are ice-cold. $BTC is trading at 78,362 USDT, up just 1.3% in 24 hours; $ETH is at 2,318 USDT, up 1.7%; $SOL is at 92.7 USDT and has actually turned lower. Even old-timers like ADA are going nowhere.
Put simply, the SEC has handed out “digital commodity” labels one after another over the past six months, and the market is already numb to it. Last time, people rushed in, treating it as bullish news. This time, there’s barely even any discussion. So what do you think—is this a case of the bullish news already being priced in, or the beginning of genuine regulatory easing?