{"id":24721,"date":"2023-11-24T18:00:53","date_gmt":"2023-11-24T18:00:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/uk-funds-get-green-light-for-tokenisation-development\/"},"modified":"2023-11-24T18:00:53","modified_gmt":"2023-11-24T18:00:53","slug":"uk-funds-get-green-light-for-tokenisation-development","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/uk-funds-get-green-light-for-tokenisation-development\/","title":{"rendered":"UK funds get green light for tokenisation development"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1700846217872-75386e48-fabe-40ed-adce-e0dae8a46b1a-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1700846217872-75386e48-fabe-40ed-adce-e0dae8a46b1a-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1700846217872-75386e48-fabe-40ed-adce-e0dae8a46b1a-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1700846217872-75386e48-fabe-40ed-adce-e0dae8a46b1a-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">UK authorised funds can now develop and implement tokenisation models.<\/li>\n<li dir=\"ltr\">The green light comes after the Technology Working Group of the Government\u2019s Asset Management Taskforce published its report on UK fund tokenisation.<\/li>\n<li dir=\"ltr\">The HM Treasury and the Financial Conduct Authority (FCA) collaborated on the initiative.<\/li>\n<\/ul>\n<p dir=\"ltr\">UK investment funds have the approval to develop tokenisation, with the development coming after the establishment of a government taskforce on asset management earlier this year.<\/p>\n<p dir=\"ltr\">The announcement follows the publication of a report on tokenisation by the Technology Working Group of the Government\u2019s Asset Management Taskforce, the Investment Association (IA) said in a <a href=\"https:\/\/www.theia.org\/news\/press-releases\/uk-funds-given-green-light-tokenisation-development\" rel=\"noopener noreferrer\" target=\"_blank\">press release<\/a>.<\/p>\n<p dir=\"ltr\">According to the industry body, the \u2018<em>UK Fund Tokenisation \u2013 A Blueprint for Implementation<\/em>\u2018 <a href=\"https:\/\/www.theia.org\/sites\/default\/files\/2023-11\/UK%20Fund%20Tokenisation%20-%20A%20Blueprint%20for%20Implementation.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">report<\/a> includes input from HM Treasury and the Financial Conduct Authority (FCA) and provides for a roadmap on use of distributed ledger technology (DLT) for fund tokenisation in the UK.<\/p>\n<h2 dir=\"ltr\">Milestone for UK funds industry<\/h2>\n<p dir=\"ltr\">Allowing tokenised funds to adopt DLT in their operations, from sales to redemptions has the potential to open the industry to further growth, Michelle Scrimgeour, Chair of the Working Group and CEO at Legal &amp; General Investment Management, said in a statement.<\/p>\n<p dir=\"ltr\">\u201cToday marks a milestone in the implementation of tokenisation within the UK\u2019s fund industry. Fund tokenisation has great potential to revolutionise how our industry operates, by enabling greater efficiency and liquidity, enhanced risk management and the creation of more bespoke portfolios,\u201d Scrimgeour added.<\/p>\n<p dir=\"ltr\">The FCA said it <a href=\"https:\/\/www.fca.org.uk\/news\/statements\/fca-welcomes-industry-report-fund-tokenisation\" rel=\"noopener noreferrer\" target=\"_blank\"><u>welcomed<\/u><\/a> the Working Group\u2019s report, noting that it sets out guidelines on adoption of tokenisation models within the UK\u2019s current legal and regulatory framework.<\/p>\n<p dir=\"ltr\">\u201cWe welcome the report today which identifies a way forward for tokenisation and has concluded that there are no significant regulatory barriers to the adoption of the proposed baseline model,\u201d said Sarah Pritchard, FCA\u2019s executive director of Markets and International.<\/p>\n<h2 dir=\"ltr\">UK\u2019s support for innovation<\/h2>\n<p dir=\"ltr\">Today\u2019s announcement comes just a day after UK Finance Minister Jeremy Hunt proposed legislation for the country\u2019s Digital Securities Sandbox. As <a href=\"https:\/\/coinjournal.net\/news\/uk-finance-minister-proposes-a-sandbox-initiative-for-crypto-regulations\/\">highlighted<\/a> by CoinJournal, the initiative aims at promoting digital assets use in financial markets.\u00a0<\/p>\n<p dir=\"ltr\">The initiative adds to the recently outlined Digital Sandbox that the FCA envisioned for early-stage digital assets firms.<\/p>\n<p dir=\"ltr\">Together with the passage of a key markets law recognizing crypto trading as regulated activity there\u2019s been <a href=\"https:\/\/coinjournal.net\/news\/uk-publishes-proposals-on-stablecoin-regulation-outlines-fcas-regime\/\">clarity on stablecoin regulation<\/a>. As other developments come into the picture, what the industry sees are milestones that align with the UK\u2019s quest to become the global hub for blockchain and web3 innovation.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/uk-investment-funds-get-green-light-for-tokenization\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) UK authorised funds can now develop and implement tokenisation models. The green light comes after the Technology Working Group of the Government\u2019s Asset Management Taskforce published its report on UK fund tokenisation. The HM Treasury and the Financial Conduct Authority (FCA) collaborated on [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24721"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24721"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24722"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}