SEC allows Franklin Templeton funds to invest in onchain money fund

cointelegraph2026-08-13 tarihinde yayınlandı2026-08-13 tarihinde güncellendi

Özet

The U.S. Securities and Exchange Commission (SEC) has granted Franklin Templeton a no-action letter, permitting its funds to invest in the firm's own on-chain U.S. government money-market fund and allowing its transfer agent to custody the tokenized fund's private keys without adhering to traditional physical custody rules. This regulatory approval is contingent on several conditions, including maintaining systems to prevent unauthorized transactions. Franklin Templeton, which oversees $2.5 billion in on-chain assets, has been expanding its crypto and tokenization efforts, including the recent launch of a crypto division.

Franklin Templeton received the regulatory nod to invest in its own blockchain-based money-market fund under specific guardrails, without having to adhere to physical custody regulations.

The Securities and Exchange Commission (SEC) issued a no-action letter on Wednesday stating it won’t take enforcement action if Franklin Templeton fund managers invest cash in the Franklin OnChain U.S. Government Money Fund, an interest-bearing tokenized fund that invests in US government securities and aims to maintain a stable $1 share price.

The SEC will also allow the affiliated transfer agent, Franklin Templeton Investor Services (FTIS), to act as custodian for the tokenized funds and hold their private keys without adhering to existing physical-custody rules. It comes in response to Franklin Templeton’s formal no-action request letter sent earlier on Wednesday.

Franklin Templeton oversees $2.5 billion in onchain assets through its tokenized funds, as the fifth-largest tokenized asset manager, according to RWA.xyz.

The fund giant launched a dedicated crypto division and acquired crypto asset manager 250 Digital in June, as part of its push into crypto and tokenization.

The SEC’s letter described 12 conditions, including requiring Franklin Templeton to maintain systems that prevent unauthorized instructions, and requiring FTIS to maintain administrative controls, such as the ability to correct, freeze, migrate or restore records.

Magazine: How Hong Kong is turning tokenized bonds into real market infrastructure

İlgili Sorular

QWhat regulatory action did the SEC take regarding Franklin Templeton's blockchain-based money-market fund?

AThe SEC issued a no-action letter, stating it will not take enforcement action if Franklin Templeton fund managers invest cash in its onchain fund under specific conditions.

QWhat is the name of the Franklin Templeton tokenized fund mentioned in the article?

AIt is the Franklin OnChain U.S. Government Money Fund.

QWhat special allowance did the SEC grant to Franklin Templeton Investor Services (FTIS) in this no-action letter?

AThe SEC allowed FTIS to act as custodian for the tokenized funds and hold their private keys without adhering to existing physical-custody rules.

QAccording to RWA.xyz, what is Franklin Templeton's position among tokenized asset managers and the size of its onchain assets?

AFranklin Templeton is the fifth-largest tokenized asset manager, overseeing $2.5 billion in onchain assets.

QWhat are two examples of the conditions the SEC described in its letter, as mentioned in the article?

ATwo conditions are: requiring Franklin Templeton to maintain systems that prevent unauthorized instructions, and requiring FTIS to maintain administrative controls like the ability to correct, freeze, migrate, or restore records.

İlgili Okumalar

History Repeating? Bitcoin Returns to the Digital Gold Era

Is Bitcoin history repeating? The article examines its shifting correlations with traditional assets like gold and tech stocks. Currently, Bitcoin's 90-day correlation with gold has surged to +0.56, its highest since 2020, while its link to the Nasdaq 100 and the US Dollar has faded. This suggests Bitcoin is behaving more as a scarce "digital gold" store of value, driven by macro concerns over currency debasement and sovereign debt, rather than as a high-beta risk asset. The analysis highlights two opposing macro forces: U.S. Treasury actions supporting long-term bonds (which weaken the dollar and benefit scarce assets) versus the Federal Reserve's ongoing inflation fight keeping real yields high (which pressures non-yielding assets like Bitcoin). The market remains highly sensitive to data like Non-Farm Payrolls and CPI, which rapidly shift Fed policy expectations and trigger significant Bitcoin volatility. While Bitcoin remains a core barometer for crypto market risk sentiment, the article concludes that the broader digital asset ecosystem—spanning decentralized exchanges, tokenization, and prediction markets—is developing independent growth drivers. This suggests the industry has the potential to evolve across various macro cycles, regardless of Bitcoin's short-term price movements influenced by interest rates and inflation data.

marsbit10 dk önce

History Repeating? Bitcoin Returns to the Digital Gold Era

marsbit10 dk önce

Liquid Attacker Keeps $47 Million for Themselves: Is It a White Hat Bounty or Disguised Extortion?

On September 6th, an attacker exploited a vulnerability in the Elements software, the foundation of Blockstream's Liquid Network, to generate approximately 4,000 fake LBTC tokens. Using the normal withdrawal channels of the SideSwap service, they exchanged these for roughly 3,998.5 real BTC (worth about $320 million) from Liquid's multi-signature wallet. The attacker then left a message in a Bitcoin transaction claiming to be "whitehats" and requested on-chain contact. After Blockstream patched the vulnerability upon contact, the attacker returned 3,400 BTC but kept approximately 598.5 BTC (worth around $47 million) in an address under their control. Blockstream is currently in communication to recover these remaining funds and has not officially recognized them as a bug bounty payment. This incident has sparked debate within the crypto community. Supporters argue the attacker acted as a white hat by exposing a critical flaw, securing the fix, and returning most funds, thus preventing a total loss. Some suggest a 15% retention could set a precedent for incentivizing ethical disclosures in major hacks. Critics, however, contend that exploiting the bug first to extract funds and then unilaterally deciding on a reward resembles extortion rather than standard white-hat procedure, where vulnerabilities are typically reported first for a negotiated bounty. Blockstream's ongoing recovery efforts indicate they view the withheld sum as assets to be retrieved, not an agreed-upon bounty.

marsbit10 dk önce

Liquid Attacker Keeps $47 Million for Themselves: Is It a White Hat Bounty or Disguised Extortion?

marsbit10 dk önce

Fed Enters the "Data Game": 0.01 Percentage Point Could Tip the Rate Decision

The Federal Reserve's upcoming interest rate decision hinges on a razor-thin margin, potentially determined by differences as small as 0.01 percentage points in upcoming inflation data. Markets are split between expectations for a rate hike and a pause, with key focus on this week's Producer Price Index (PPI) and Consumer Price Index (CPI) reports for August. Economists note the Fed's primary inflation gauge is the Personal Consumption Expenditures (PCE) price index. Current CPI and PPI data will be used to estimate the upcoming PCE reading. Analysts like Krishna Guha of Evercore ISI suggest that a core PCE monthly increase of around 0.21%-0.22% could lead the Fed to hold rates, while a 0.23%-0.24% rise would "likely tilt towards a hike," highlighting the precarious nature of the decision. Fed Chair Kevin Warsh's role is seen as crucial following his Jackson Hole remarks emphasizing the prolonged miss of the 2% inflation target. Market pricing currently implies about a 60% chance of a hike. Officials are divided, with some advocating for a hike to demonstrate anti-inflation resolve, while others stress data dependence. Further complications include upcoming revisions to historical PCE data and external pressure, such as former President Trump's recent threats related to trade and interest rates. Guha notes that if market expectations solidify strongly in favor of a hike before the meeting, it could make pausing more difficult for Warsh. Ultimately, the September decision depends not just on whether inflation is high, but precisely where the PCE lands and whether Chair Warsh can unite a divided committee.

marsbit24 dk önce

Fed Enters the "Data Game": 0.01 Percentage Point Could Tip the Rate Decision

marsbit24 dk önce

SpaceX Weight Increase Triggers $12.4 Billion in Passive Buying; Trial of 2.3 Billion Shares Unlock Still Ahead?

SpaceX's inclusion weight in the Nasdaq 100 index is set to rise from 1.25% to approximately 1.51% in the quarterly rebalancing effective September 21. This increase, triggered by a jump in its free float to nearly 30% following the unlocking of over 1 billion shares, is projected to drive about $12.4 billion in passive fund inflows, according to JPMorgan. However, this mechanical buying pressure coincides with a significant wave of share supply. More than 2.3 billion additional restricted shares are scheduled to become eligible for sale in two batches: over 1 billion before late October and another ~1.3 billion after the Q3 earnings report in mid-November. This creates a core market dynamic for Q4, pitting near-term index-driven demand against potential medium-term selling pressure from these unlocks. While the initial post-earnings unlock in August did not lead to major insider selling, analysts highlight the November unlock as a key test for the stock's true market depth. The price has recently traded sideways around its $135 IPO level in the absence of fundamental catalysts. Beyond the Nasdaq 100, future potential for passive buying remains, as SpaceX is already in the Russell 1000 but must wait until mid-2027 for potential S&P 500 eligibility. The interplay between index fund buying and the impending supply of shares will be crucial for SpaceX's pricing in the coming months.

marsbit24 dk önce

SpaceX Weight Increase Triggers $12.4 Billion in Passive Buying; Trial of 2.3 Billion Shares Unlock Still Ahead?

marsbit24 dk önce

CARF: What to Report? An Interpretation of Reportable Information and Local Implementation Differences

The OECD's Crypto-Asset Reporting Framework (CARF) defines the information that Reporting Crypto-Asset Service Providers (RCASPs) must disclose annually. This report consists of three core data types: information about the RCASP itself, details on reportable users (including entity controllers), and aggregated transaction data for relevant crypto-assets (excluding certain types like CBDCs). Transaction categories include acquisitions/disposals for fiat or other crypto-assets, reportable retail payments, transfers, and transfers to unknown wallets. However, as jurisdictions implement CARF into local law, key differences from the OECD standard emerge. Variations include whether domestic tax residents must be reported (e.g., UK and New Zealand require it; Japan and Singapore typically do not), the local currency used for reporting valuations, thresholds for retail payment transactions (e.g., 500,000 yen in Japan), specific reporting field requirements (e.g., birthplaces, Tax Identification Number formats), and rules for nil returns. For compliance, RCASPs must integrate CARF's tax due diligence into existing KYC/AML processes, establish consistent fiat conversion and valuation mechanisms, and meticulously track jurisdictional implementation rules, as local adaptations will dictate the final data submitted to tax authorities.

marsbit35 dk önce

CARF: What to Report? An Interpretation of Reportable Information and Local Implementation Differences

marsbit35 dk önce

İşlemler

Spot
活动图片