Franklin Templeton received SEC staff no-action relief for blockchain-based custody of OnChain Fund shares under Rule 17f-2.
- Franklin Templeton has received SEC staff no-action relief for its blockchain-based custody of OnChain Fund shares, a significant step for tokenized securities.
- This relief addresses regulatory hurdles related to Rule 17f-2, which was designed for physical securities, by allowing a hybrid approach combining traditional records with blockchain technology.
- The decision, based on specific facts and conditions, is expected to foster innovation in digital asset management and potentially influence broader industry adoption of blockchain for custody solutions.
Topics: Asset types, Legal regulatory, Infrastructure providers, Financial instruments, Securities law classification, Tokenization platforms
Tags: #franklintempleton #sec #noactionrelief #blockchaincustody #onchainfund #rule17f2 #tokenizedsecurities #stellarblockchain #moneymarketfund
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