Canton Coin (CC), the native cryptocurrency of the Canton network, rose 4% to $0.098 after staff from the SEC’s Division of Corporation Finance issued a no-action letter. The staff said CC’s value derives from network activity and demand rather than efforts by a central team to generate profits for holders. The SEC indicated that it would not recommend enforcement action over the issuance of CC without a securities registration, provided the tokens are created under Canton’s conditions. However, this staff position is not a binding determination of CC’s legal status, and the token remains down roughly 4.2% over the past week.
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