According to CoinMeta, the U.S. Securities and Exchange Commission (SEC) has approved Franklin Mutual Funds and ETF to invest in its blockchain-based U.S. government money market funds. The investment management department of SEC stated in a no-action letter issued on Wednesday that if Franklin's registered funds hold shares in these money market funds, they would not recommend taking enforcement action under Sections 17(f) and 17f-2 of the 1940 Investment Company Act. This decision provides Franklin's traditional investment products with a direct way to access blockchain funds. The blockchain infrastructure of these funds is capable of processing transactions, while their traditional record-keeping layer remains part of the ownership system.