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According to The Block, the Investment Management Department of the US Securities and Exchange Commission (SEC) has issued a no objection letter to Franklin Templeton, allowing its traditional registered fund to invest in the company's on chain US government money market fund BENJI for cash management without meeting some physical custody requirements. Bloomberg analyst James Seyfart stated that this has opened the door for Franklin's traditional funds to hold its on chain funds. This decision enables traditional Franklin funds to enjoy BENJI's operational advantages, including faster transaction processing and more frequent pricing updates.