According to CoinMeta, as reported by the Financial Times, the UK Financial Conduct Authority (FCA) stated that it is working with the Treasury and the Bank of England to establish a dedicated regulatory framework for tokenized gold and a broader range of tokenized commodities. They are also evaluating exemptions for certain tokenized gold products or market infrastructure from the regulatory requirements of collective investment schemes (CISPs) and alternative investment funds (AIFs). The FCA mentioned that no decisions have been made yet. Tokenized gold represents ownership of physical gold through digital assets, with issuers holding gold bars as underlying assets, which could potentially help release more of London's gold reserves for use as collateral in financial transactions. The UK currently accounts for about 70% of global gold trading volume. The Bank of England is also considering including tokenized assets, including stablecoins, within the eligible collateral range of the pound sterling monetary framework, and plans to launch consultations later this year regarding the acceptance of tokenized assets as collateral by central counterparty clearing organizations.