SEC ruling lifts Canton Coin 6% as a16z sees pathway out of securities laws

Canton Coin rose more than 6% after US securities regulators recognized the blockchain's native token as a digital commodity.The token traded at $0.09892, according to CryptoSlate's data, as investors assessed a Nov. 3 decision that removes a significant regulatory obstacle for the institutional blockchain network.The Securities and Exchange Commission's (SEC) Division of Corporation Finance said it would not recommend enforcement action against certain network participants that earn newly minted Canton Coin (CC) for operating infrastructure and applications without registering those activities under federal securities laws.The decision drew praise from Miles Jennings, head of policy and general counsel at Andreessen Horowitz's a16z Frontier, who argued that the ruling establishes a broader regulatory pathway for blockchain projects.“Incredible,” Jennings wrote on X, pointing to the SEC's March token classification framework and subsequent guidance.He added that the developments had created a clear pathway out of securities laws, arguing that network tokens should be treated as digital commodities.His assessment carries particular commercial significance for Andreessen Horowitz. Th...