UK Government Asset Management Taskforce Releases Tokenization Roadmap

According to Foresight News, the technical working group of the UK government's asset management taskforce has released a roadmap for implementing fund tokenization, providing a benchmark model for tokenization. The model can be used within the existing legal and regulatory framework, and investment management firms can implement it immediately. However, these funds must meet certain conditions to be eligible for tokenization. For example, they must contain mainstream assets and continue to provide valuations and settlements through the same processes and timeframes as traditional funds. Sarah Pritchard, the Financial Conduct Authority (FCA) Director of Markets and International, stated that the report identifies the way forward for tokenization and that there are no significant regulatory barriers to adopting the proposed benchmark model.