Canton says SEC relief is first of its kind since March interpretive bulletin

Odaily reports: In a letter on Tuesday, the SEC's Division of Corporation Finance stated that it considers Canton Network's native token, Canton Coin, to be a "digital commodity" and said it would not recommend enforcement action regarding its programmatic minting.

Canton submitted its request letter on October 30, and SEC staff responded four days later. The letter reflects only the staff's position on enforcement, does not constitute a legal conclusion, and is based on the factual representations provided by Canton.

Canton said this is the first such relief since the SEC issued its March interpretive bulletin, and also the first since the SEC proposed its "Crypto Asset Regulatory Rules" in August. (Decrypt)