Roger Bayston, the head of digital assets at Franklin Templeton, recently shared his insights on the ongoing dialogue between financial innovators and the U.S. Securities and Exchange Commission (SEC) at the 2024 Consensus Conference. Bayston emphasized that this interaction is a natural part of the process and that the SEC's actions are aimed at protecting the economy.

Bayston acknowledged that the SEC tends to rely on legal precedents, which are often set in court. Despite frequent skepticism about the SEC's 'open door' policy, Bayston believes that the agency's actions are not insurmountable and are part of a broader effort to ensure the stability of the financial system.

In his remarks, Bayston highlighted the importance of cooperation and discipline in the financial industry. He noted that without these key elements, the industry would not have been able to survive for 76 years. Bayston also expressed his optimism about the SEC's changing attitude, stating that the agency has always been open to communication and that the situation is improving compared to last year.

This interaction between financial innovators and the SEC is crucial for the growth and development of the digital asset market. By fostering a collaborative environment, the SEC can help to ensure that the industry operates in a transparent and regulated manner, which is essential for maintaining investor confidence and protecting the economy.

In conclusion, Roger Bayston's comments underscore the importance of cooperation and discipline in the financial industry. His optimism about the SEC's changing attitude is a positive sign for the future of the digital asset market, and his emphasis on the importance of regulatory clarity is a reminder of the need for continued dialogue and collaboration between financial innovators and regulatory bodies.