ChainCatcher news, Coinbase's CB Payments Ltd. (CBPL) has been fined £3.5 million ($4.5 million) by the UK's Financial Conduct Authority (FCA) for providing services to high-risk customers. It is reported that CB Payments Ltd. (CBPL) is an electronic money institution and payment processor associated with the cryptocurrency exchange Coinbase (COIN).

ChainCatcher news, the technical working group of the UK government's asset management task force has released a roadmap for the implementation of fund tokenization, providing a benchmark model for its execution. This model can be utilized within the existing legal and regulatory framework, and investment management companies can implement it immediately. However, these funds must meet certain conditions to qualify for tokenization. For example, they must include mainstream assets and continue to provide valuation and settlement through the same processes and timeframes as traditional funds.Sarah Pritchard, Executive Director of Markets and International at the UK Financial Conduct Authority (FCA), stated, "The report identifies the way forward for tokenization, and there are no significant regulatory barriers to adopting the proposed benchmark model."