The UK’s Financial Conduct Authority is considering exempting tokenized gold from certain fund rules as part of a broader push to expand tokenization in wholesale markets. The regulator could enable London’s gold reserves to be used as collateral in financial transactions. Industry participants warn that regulatory uncertainty could slow the development of tokenized gold and limit investor access. London remains the world’s dominant over-the-counter gold market, accounting for about 70% of global notional trading volume, according to the World Gold Council.
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