UK FCA Working on Blue Print for Fund Tokenization Due This Year

The U.K.'s regulator, the Financial Conduct Authority (FCA), has been moving with the Technology Working Group connected a blueprint for money tokenization, FCA Chair Ashley Alder said in a Thursday speech.

FCA, the U.K.'s fiscal regulator, published a treatment insubstantial successful February this twelvemonth connected updating and improving a authorities for plus absorption successful the country. The insubstantial touched connected "how money managers mightiness follow distributed ledger exertion to connection afloat digitised funds to the public," Alder said.

A tokenized money is simply a money that issues integer tokens that correspond interests successful the money and uses distributed ledger technology.

At the time, the FCA said successful its treatment insubstantial it was actively engaging with firms and commercialized associations astir proposals for money tokenization to make its reasoning and see regularisation changes.

"We’ve been moving with the Technology Working Group, which sits nether the Treasury’s Asset Management Taskforce, connected a blueprint for money tokenization," Alder said. "The moving radical volition people this aboriginal successful the year."