FCA to consider easing UK rules for tokenized gold purchases
- —The FCA will propose a targeted exemption from CIS and AIF restrictions for tokenized gold
- —London accounts for about 70% of global gold trading volume, according to WGC data
- —Tether Gold (XAUT) has a market cap of $2.63 billion, PAX Gold (PAXG) — $1.87 billion
- —Monthly transfers of XAUT totaled $3.70 billion, PAXG — $1.61 billion
Why it matters: Easing the rules could revive the tokenized gold market in London and allow bars to be used as collateral, intensifying competition with China.
Source: BeInCrypto AR