SEC Division of Corporation Finance issues conditional no-action position on the programmatic issuance of Canton Coin

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SEC Division of Corporation Finance said it would not recommend enforcement action over the programmatic issuance of Canton Coin, provided certain conditions are met, and included it in discussions of digital commodity classification. Digital Asset made the request citing factors including the network’s automatic operation, decentralization, burn-and-mint mechanism, and the absence of a premine, initial coin offering, or presale of tokens.