Franklin Templeton met with the SEC Crypto Task Force on October 9 to discuss enabling investors to exchange on-chain fund shares for tokenized U.S. equities directly on blockchain trading platforms. The meeting also addressed whether liquidity providers can charge service fees and how Investment Company Act pricing rules apply to these transactions. Discussions extended to pairing tokenized ETFs and stocks with compliant payment stablecoins or tokenized money market funds. The parties also examined whether liquidity pools facilitating these exchanges would require exemptions under investment company regulations.