Be persistent with the SEC, said head of digital assets Franklin Templeton
The SEC is protecting the economy, but Roger Bayston sees a change in the regulator's stance.
According to Franklin Templeton's head of digital assets Roger Bayston, financial innovators are playing the long game with the US Securities and Exchange Commission (SEC), and that's only fair.
“The SEC, like many regulators, likes to rely on legal precedent. [...] Those precedents are sometimes set in the courts, so this is just the process we're in,” Bayston told Cointelegraph's Turner Wright at the Consensus event.
Although he frequently expressed skepticism about the SEC's "open door" policy, Bayston viewed the agency's behavior as protective of the economy and not insurmountable:
Bayston noted that things are changing in the SEC when comparing this year to last. “We have been happily cooperating with the SEC […] and we are very pleased that they have changed and changed their tone,” he said.
Related: Franklin Templeton goes 'completely degenerate' with investor note on memecoin
Franklin Templeton launched the U.S. Government’s Franklin OnChain Monetary Fund (“Benji”) in 2023, but getting there “was actually a five-year journey with them [the SEC], which sheds light on , educating them on how to use blockchain technology in running mutual funds.”
