Financial Innovators Collaborate with SEC on Blockchain Technology and Cryptocurrency

• Franklin Templeton head sees SEC engagement as necessary for trust and collaboration.
• SEC's behavior is changing, with Franklin Templeton noting a positive shift in tone.
• Franklin Templeton launched a tokenized money fund after a five-year journey with the SEC.
• Bayston compares tokenized money funds to stablecoins, bullish on crypto's value.
• Franklin Templeton's Ether ETF application approved by SEC along with others.
• Bayston believes crypto is as crucial to portfolios as tech stocks were 30 years ago.

Summary :
Financial innovators, such as Franklin Templeton, are engaging with the United States Securities and Exchange Commission (SEC) in a long-term process. According to Roger Bayston, the head of digital assets at Franklin Templeton, the SEC relies on legal precedents, which are often established in courts of law. Bayston sees the SEC's behavior as necessary for safeguarding the economy and believes that collaboration with regulators is essential. He also noted that the SEC's tone has been shifting and changing this year. Franklin Templeton recently launched its Franklin OnChain U.S. Government Money Fund, which involved a five-year journey of educating the SEC about blockchain technology. Bayston compared tokenized money funds to stablecoins and expressed bullishness on cryptocurrency, stating that properly structured crypto tokens represent value for technology. Franklin Templeton's application for a spot Ether exchange-traded fund was approved by the SEC along with others, and Bayston believes the agency was not trying to give any advantage in the nascent marketplace.

Sources :

- CoinTelegraph