Franklin Templeton digital asset head advises maintaining perseverance with the SEC

Financial innovators are strategically engaging with the United States Securities and Exchange Commission (SEC) in a long-term game, according to Roger Bayston, the head of digital assets at Franklin Templeton. Bayston highlighted that regulatory bodies like the SEC rely on legal precedents, which are often established in courts of law. He emphasized that this is a necessary process that the industry is currently involved in. Despite some skepticism about the SEC’s “open door” policy, Bayston believes that the agency’s actions are essential for safeguarding the economy and not insurmountable. He also noted that there have been positive changes at the SEC this year, and Franklin Templeton has had productive engagement with the agency. Bayston compared tokenized money funds to stablecoins and highlighted the importance of cryptocurrency in investment portfolios, stating that it is similar to the significance of technology stocks 30 years ago. Franklin Templeton recently filed an application with the SEC for a spot Ether exchange-traded fund, and Bayston expressed that the agency’s decision to approve it alongside other applications was expected. He stated that the SEC was not aiming to provide any party with an advantage in the emerging cryptocurrency market.