FCA considers exempting tokenized gold from fund rules to defend London market
The Financial Conduct Authority is exploring a bespoke regulatory framework with the Treasury to carve out digital gold from traditional fund laws.
Source: CoinDesk
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DW NOTE
The FCA is trying to exempt tokenized gold from fund rules because London's gold market is losing flow to blockchain-based alternatives. This isn't innovation policy — it's an admission that legacy custody models are structurally disadvantaged when settlement happens in seconds rather than days.