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Crypto

SEC Gives Green Light for On-Chain Government Money Market Funds

Guavy AI Editorial Team
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The US Securities and Exchange Commission (SEC) has issued a no-action letter to Franklin Templeton, allowing its on-chain government money market fund to operate without violating custody rules under the Investment Company Act of 1940.

The letter provides relief for Franklin Templeton's registered funds, including mutual funds and ETFs, to hold on-chain funds as long as they meet specific conditions outlined by the SEC.

This development is significant for the asset management industry, providing a regulatory pathway for traditional funds to incorporate blockchain-based assets.

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