[U.S. SEC Approves Franklin Templeton Fund to Use BENJI On-Chain System for Cash Management] According to The Block, the U.S. Securities and Exchange Commission (SEC) Division of Investment Management has issued a no-action letter to Franklin Templeton, allowing its traditional registered funds to invest in the company's on-chain U.S. government money market fund (BENJI) for cash management purposes, without needing to meet certain physical custody requirements. Bloomberg analyst James Seyffart stated that this effectively opens the door for Franklin's traditional funds to hold its on-chain fund, even though these funds technically do not fully comply with the custody rules under the Investment Company Act of 1940. This decision enables Franklin's traditional funds to benefit from the operational advantages of BENJI, including faster transaction processing and more frequent pricing updates.