According to CoinMeta, the UK hopes to incorporate one of London's oldest markets into its emerging digital finance infrastructure. The Financial Conduct Authority (FCA) is exploring custom rules for tokenized gold, including whether certain structures should be exempt from existing fund regulations. A question being considered by the FCA's consultation center is whether such tokens should automatically be regulated as investment funds when gold is represented in digital token form. The FCA is reviewing a specialized regime that could potentially exempt eligible tokenized gold products from the regulations of collective investment schemes and alternative investment funds. This work is being carried out in conjunction with the Treasury and the Bank of England, and no final regulatory model has yet been chosen.