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Falling Leaves, Rising Regulations, November 2025 – FCA Sets Out Plans To Support Tokenisation and Consults on Rules for Regulated Crypto Asset Activities

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On 14 October 2025, the UK’s Financial Services Authority (“FCA”) published Consultation Paper 25/28 on “Progressing Fund Tokenisation” (the “CP”), which it claims will be a key component of future financial services. The CP is addressed to authorised funds, where the FCA regulates both the fund and manager, but elements will be of interest to non-authorised funds where only the manager is FCA-regulated….
By: Cadwalader, Wickersham & Taft LLP

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