FCA TOKENIZED GOLD RULES AND RESERVE DIVERSIFICATION

Summary from the TLDR Crypto newsletter

The FCA is drafting rules on whether tokenized gold can be posted as collateral for OTC derivatives, since 70% of world gold trades through London and tokenization enables people to trade gold easily. The Strait of Hormuz has been effectively closed since February, oil is above $100, and central banks bought a record 289 tonnes of gold last quarter. Reserve managers are rotating into assets that don't depend on politically exposed dollar payment rails.