UK FCA seeks views on fund rule exemptions for tokenized gold

The FCA said uncertainty over whether some tokenized gold products fall under UK fund rules could affect adoption and investor access.

[Update, Sept. 14, 2026, 10:17 UTC: Added information from the UK FCA’s call for input and feedback statement.]

The United Kingdom’s Financial Conduct Authority (FCA) is seeking feedback on whether some tokenized gold products should be exempt from fund rules as regulators examine their use in wholesale markets.

In a call for input published Monday, the FCA said it is looking at whether tokenization could improve how gold is traded, transferred, pledged and held in UK markets, including its potential use as wholesale collateral.

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