Today the UK’s Investment Association (IA) called for the British government and regulator, the FCA, to create a framework for tokenized funds to operate in the UK. And it requests the creation of a decentralized finance (DeFi) task force to explore the policy implications for the sector. The trade body’s members manage £9.4 trillion of assets. Today it published a report exploring a broad role for blockchain and DeFi within the asset management sector.
“With the ever-quickening pace of technological change, the investment management industry, regulator and policy makers must work together to drive forward innovation without delay,” said Chris Cummings, CEO of the Investment Association.
A spectrum of potential innovations for Funds 3.0 is considered. At its most basic, it is business as usual with blockchain and tokenization creating efficiencies and some opportunities. A more advanced level of innovation broadens the potential asset classes to include private companies, infrastructure and native digital assets such as cryptocurrencies.
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