The UK FCA supports fund tokenization plans

2023-11-27 20:32:52

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ChainCatcher news, according to CoinDesk, the UK's Financial Conduct Authority (FCA) expressed support for a report released by industry experts on Friday regarding the implementation of fund tokenization. The technical working group established by the Treasury's Asset Management Special Task Force stated that companies should ensure their funds are authorized by UK regulators, hold traditional assets, and should be interoperable with future technologies. For companies to successfully launch tokenized funds, regulatory certainty is required. Furthermore, in certain cases, companies wishing to use DLT need to register with the FCA and comply with its Money Laundering Regulations (MLR). The FCA is currently exploring whether it can expedite the MLR application process for companies that have already been authorized.

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