Update
SEC Nods to Canton Coin as Wall Street Tokenization Service Launched
The SEC's Division of Corporation Finance has granted a regulatory nod to Canton Coin, the native token of the Canton Network. The agency's letter dated October 30 states that Canton Coin is a 'digital commodity' under securities laws. This comes a week after the Depository Trust & Clearing Corp. (DTCC) launched a tokenization service on the Canton Network. The relief from enforcement action is contingent on the token being minted programmatically without registration. Canton Coin's value is derived from the network's programmatic operation and supply and demand, with no central party. The letter reflects staff's position on enforcement, not a legal conclusion, and is based on the facts presented by Canton.