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The UK Financial Conduct Authority is considering whether to exclude certain tokenized gold products from rules covering collective investment schemes and alternative investment funds, the Financial Times reported. With it still unclear whether those regulations should apply to tokenized gold, industry participants have said the uncertainty could limit some investors’ access to the products. The FCA is discussing with the Treasury and the Bank of England whether to exempt specific tokenized gold products from current rules or create a separate regulatory framework for tokenized gold and commodities, although no concrete approach has been decided.