UK Regulator Drafts Tokenised Gold Rules to Defend London's Bullion Crown Against China

Verified · 11 Aug 2026Institutional TransitionAug 11, 2026

The UK is rolling out a comprehensive crypto and digital asset regulatory framework while deepening transatlantic coordination with the US on stablecoins and tokenized finance.

The FCA is in discussions with major banks on a regulatory framework for tokenised gold — blockchain-based claims on physical bullion, aimed particularly at use as collateral in wholesale markets — per Financial Times reporting, with further standards expected in the coming months. Coverage framed the push as defending London's roughly 70% share of global gold trading against competition from Shanghai and Hong Kong. It builds on a May joint paper naming tokenised gold and money-market funds as collateral candidates; nothing is yet live.

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UK FCA urges asset managers to adopt blockchain, plans framework for tokenized gold · en.coin-turk.com · T2

Story timeline · 8 entries

Aug 11, 2026This story
FCA Drafts Tokenised Gold Rules
The FCA is drafting a tokenised-gold framework with major banks — gold as wholesale collateral, per FT reporting — to defend London's ~70% share of global bullion trading against Shanghai and Hong Kong; standards expected in coming months, nothing live yet
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