The UK Financial Conduct Authority (FCA) is actively discussing with market participants, including large banking structures, the development of a regulatory framework for tokenized gold. According to the Financial Times, the regulator is exploring approaches to creating rules that will not only provide a legal foundation for this segment, but will also contribute to its sustainable growth. At the same time, the agency is collecting feedback from relevant experts on the potential of using tokenized gold assets as collateral in wholesale financial markets. The sources of the publication note that in the coming months, the FCA may officially announce the beginning of the development of relevant regulatory standards, which will be an important step in legalizing and structuring this emerging market.

The initiative of the British regulator is closely linked to the national program for digitalization of wholesale financial markets and the need to maintain competitive advantages in the global arena. Experts emphasize that without timely modernization of the market infrastructure, including the introduction of asset tokenization technologies, the UK risks losing its leading position. Tokenization is considered as a key tool for increasing liquidity, transparency and efficiency of settlements in the precious metals market.

An important aspect of the discussion is the separation of powers of the regulator: currently, the FCA does not directly oversee the trading of physical gold, but sets strict rules for the circulation of gold derivatives and exchange-traded investment products. New standards for tokenized gold are expected to be integrated into this existing supervision architecture. This initiative is developing against the background of a general tightening and structuring of crypto regulation in the country. Earlier, in June 2026, the British regulator approved the schedule for submitting applications for authorization for crypto companies, setting the corresponding period from September 30, 2026 to February 28, 2027, which indicates the planned transition of the digital asset industry into a strictly regulated legal field.