The US Securities and Exchange Commission’s Division of Corporation Finance issued a no-action letter saying it views Canton Coin as a “digital commodity.” Staff said they would not recommend enforcement action over its issuance without securities registration, provided the tokens are created under the conditions Canton described. The letter states a staff position, not a binding ruling on the token’s legal status.
Canton Coin rose 4% after the letter. It traded at $0.098 at 10:27 am UTC but was still down roughly 4.2% over the past week, according to CoinMarketCap.
