Global Experiences from Regulatory sandboxes

Key Data from Regulatory Sandboxes across the Globe

Regulatory sandboxes have become synonymous with fintech innovation and offer the unique benefit of providing the empirical evidence needed to substantiate decisions. This paper on Global Experiences from Regulatory Sandboxes brings together detailed lessons learned and case studies from sandboxes across the globe Global Experiences from Regulatory Sandboxes. Global Experiences from Regulatory Sandboxes Toggle navigation. Who We Are. Leadership, organization, and history. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for. This is an evolving list, but is currently up-to-date as of November 2020.These figures are supplemented by a detailed analysis of experiences thus far of all known sandboxes and is contained in our report, Global Experiences From Regulatory Sandboxes Regulatory sandboxes are becoming a global trend, providingplenty of opportunities for innovative businesses. Pioneered in the UK as part of the Financial Conduct Authority's (FCA) Project Innovate, a regulatory regulatory framework. For example, the FCA has stated how experiences in the sandbox have allowed it to see first-hand how. The many benefits brought about by regulatory sandboxes are analyzed in a recently released paper, Global Experiences from Regulatory Sandboxes. The research covers the challenges and lessons learned from the implementation of 73 unique fintech sandboxes in 57 countries

Global: A Guide to Regulatory Fintech Sandboxes Internationally. By Jonathan Peddie, Stephanie Magnus and Richard Powell May 20, 2020 1 Min Read. Regulators around the world are responding quickly to the rapidly evolving financial technology, or fintech, landscape. As new or emerging financial products, services or delivery channels may not. A Global Regulatory Sandbox — Collaboration, Policies and Solutions for Cross-Border Compliance. The thought of a sandbox brings up ideas of creating things without worry, without repercussions. While not a child's play area, a regulatory sandbox (or fintech sandbox) provides a similar benefit; a safe and prescribed area that is used for.

Global Experiences from Regulatory Sandboxe

Utah’s Effort To Expand Regulatory Sandboxes Is Smart Move

2019] REGULATORY SANDBOXES 581 calling for the adoption of a regulatory sandbox in the United States in order to bolster the global competitiveness of the U.S. fintech in-dustry.3 However, there has been almost no critical analysis of any regulatory sandbox model adopted anywhere in the world to date. To bring to the fore tangible evidence and insights from global sandbox experiences, CGAP and the World Bank Group conducted a joint survey between February and April 2019 on regulatory innovation facilitators, including accelerators, sandboxes and innovation hubs Other global developments include the International Organisation of Securities Commissions (IOSCO) establishing a network to facilitate exchanges among members on their experiences regarding FinTech developments, including sandboxes, and the G20 assessing the need for a G20 FinTech Working group, which would establish regulatory principles to.

FCA and GFIN Members | Jan 31, 2019 The Global Financial Innovation Network (GFIN) was formally launched in January 2019 by an international group of financial regulators and related organisations, including the FCA. This built on the FCA's early 2018 proposal to create a global sandbox. The GFIN is a network of 29 organisations committe Regulators launch global fintech sandbox. More than 20 regulators from countries including the UK, Canada, USA and Australia have opened applications for a global fintech sandbox following a trial last year. Sandboxes allow fintechs and other innovators to test new products and services in a controlled environment under regulatory.

A regulatory sandbox is a concept that enables firms to test innovative products, services or business models. Within such sandbox, regulatory obligations are partly not applicable. In a regulatory sandbox, the competent authorities waive the application of administrative provisions that apply for larger and established firms The word sandbox originally referred to the small box filled with sand where children play and experiment in a controlled environment. But little by little, the term has acquired new meanings. In the computer science world, a sandbox is a closed testing environment designed for experimenting safely with web or software projects.. The concept is also being used in the digital economy arena, to. The British Virgin Islands have launched a new Fintech sandbox to encourage technological innovation in financial services under a lighter touch regulatory regime. The sandbox, which opened for applications on 31 August 2020, further strengthens the BVI's ambitions to become a global hub for innovation and emerging technologies

Entitled 'Inside the regulatory sandbox: effects on fintech funding', the 42-page paper looked at the experience of the FCA sandbox in the UK. After a data analysis (2014-2019) the authors found that firms entering the sandbox saw an increase of 15% in capital raised post-entry relative to firms that did not enter; and their probability of. The lunchtime event was held following the FCA's call for feedback on a global sandbox, which it released via a webpage published on 14 February 2018. The regulator hopes to access sandbox facilities in more jurisdictions outside the UK alongside the FCA's current regulatory sandbox, though how this will be done is still being worked out

The path to a global sandbox: The launch of the first national sandbox initiative in the UK The FCA is well established as a leading voice (if not the leading voice) when it comes to financial regulatory innovation and it is no surprise that it has been the driving force behind GFIN

In August 2019, the Reserve Bank of India (RBI) released its final guidelines for a regulatory sandbox for fintech firms. [1] Technology innovations are disrupting the traditional financial sector, and the RBI's regulatory sandbox exercise is an attempt to be more agile and absorb some of this disruption Global sandboxes The FCA's regulatory sandbox, created in November 2015, opened for applications in June 2016. The FCA takes on two small cohorts each year and has recently selected a third. World Bank, Global Experiences from Regulatory Sandboxes, Nov 2020 The UK FCA's evaluation found that the sandbox had reduced the time and cost to market, facilitated funding, increased competitive pressure on incumbents, and led to high levels of innovation with new offerings (e.g., 40% of British sandbox firms were using distributed ledger.

Regulatory sandboxes have been a feature of the regulatory landscape since 2016, when the UK FCA introduced them as a means of allowing firms to test innovative propositions in the market, with real consumers. Now regulators are looking at a global network Regulatory sandboxes are a safe place for legal businesses to offer services/products differently. That's a loaded sentence so let's unpack it with a little retrospection: 1 Global Integration. The concept of regulatory sandboxes is currently running in over 20 nations. Apart from the countries mentioned above, Australia, Indonesia, Hong Kong, Malaysia, Denmark, and Thailand have sandboxes running to join the race

Key Data from Regulatory Sandboxes across the Glob

Regulatory sandboxes are becoming more and more important for Germany as an attractive centre for innovation. Creative companies, public authorities and researchers use them to test what was hard to imagine just a few years ago: for example, autonomous vehicles, drones or ships, new solutions for telemedicine or public administrations. At the same time, regulatory sandboxes help to advance. Regulatory sandboxes are safe spaces in which organizations can test products or services with reduced risk of regulatory exposure. Regulators require sandbox applicants 'to incorporate appropriate safeguards to insulate the market from risks of their innovative business' (Zetzsche et al., 2017, p. 64).A sandbox may also be viewed as a 'framework within which innovators can test business. A regulatory sandbox for the legal industry, taking the experiences of the fin-tech sandboxes and the Innovation Space of the SRA, could be helpful in meeting the challenges of a changing market. The Regulatory Sandbox. Enter regulatory sandboxes. The regulatory sandbox is a sort of safe space which allows innovators to test their products in a live environment, in which impact can be felt immediately without following pre-set industry restrictions. These sandboxes could open up space for paradigm-changing innovation The report, titled Early Lessons on Regulatory Innovations to Enable Inclusive Fintech: Innovation Offices, Regulatory Sandboxes, and Regtech, was produced by the University of Cambridge's Centre for Alternative Finance (CCAF) and the Fintech Working Group of the UNSGSA with support from the Monetary Authority of Singapore (MAS).. Released earlier this month, the document highlights the.

Regulatory Sandboxes — a Global Stocktak

Regulatory sandboxes provide fintech firms a safe space to test innovative products, services or business models within a controlled and supervised environment. By first testing within a. This is where regulatory sandboxes come in, because they can encourage innovation while ensuring security and stability for organizations, customers and governments. The challenges FinTech poses for regulators. The FinTech revolution is still in its first decade, but it has already influenced financial services on a global scale 2 Introduction to the Regulatory Sandbox Concept 8 2.1 Emergence of Regulatory Sandboxes 8 2.2 Basic Elements of a Regulatory Sandbox 9 2.2.1 Sandbox Process 10 2.2.2 Sandbox Framework / Guidelines 11 2.2.3 Sandbox Application Form 14 2.3 Class Waivers and License Exemptions 15 3 The State of Regulatory Sandboxes in Developing Countries 1 Regulatory exemptions or waivers exempt a firm from requiring authorization to carry out a regulated activity or compliance with a specific requirement. Regulatory Sandbox is a controlled, time-bound, live testing environment, which may fea-ture regulatory forbearance and alleviation through discretions. The testing environment ma

Regulating a Revolution: From Regulatory Sandboxes to Smart Regulation Dirk A. Zetzsche, Ross P. Buckley, Janos N. Barberis, and Douglas W. Arner Abstract Prior to the global financial crisis, financial innovation was viewed very positively, resulting in a laissez-faire, deregulatory approach to financial regulation. Since the crisis the. The Financial Conduct Authority (FCA) has published a call for feedback on a possible global regulatory sandbox, seeking views on: the potential global reach of the sandbox, what a global sandbox could look like and what the regulatory challenges might be. GLOBAL SANDBOX. The FCA, alongside other regulators in other jurisdictions, wish to create the right conditions for firms who are. Defining Energy Regulatory Sandboxes . The idea behind a sandbox finds its origin in software engineering: a sandbox - as in a testing environment - for running potentially unsafe codes, without the risk of infecting the entire system. A regulatory sandbox is not unique to the energy sector and has previously been introduced in other sectors such as banking and healthcare Policymakers around the world are adopting regulatory sandboxes as a tool for spurring innovation in the financial sector while keeping alert to emerging risks. Using unique data for the UK, this paper provides initial evidence on the effectiveness of the world's first sandbox in improving fintechs' access to finance

Local Regulatory Sandboxes in Asia - Australia, Hong Kong, Singapore and the UK. Let's take a closer look at the sandboxes provided by Australia (part of the Australian Securities and Investments Commission's Innovation Hub), Hong Kong, Singapore and the United Kingdom (part of the Financial Conduct Authority's Project Innovate) These Arizona sandboxes are for playing out results. Arizona is finding itself getting attention from global markets with its groundbreaking sandboxes for financial technology and property. Second, given the novelty of the sandbox model - with only six founded in 2016 (Zetzsche et al., 2017) - we included only regulatory sandboxes that were operating by 2016 to capture information-rich cases featuring the most highly developed sandboxes. 2 This is particularly important because sandboxes serve as a testing arena for both.

Global: A Guide to Regulatory Fintech Sandboxes Internationally. By Jonathan Peddie and Karen Man November 25, 2020 1 Min Read. Regulators around the world are responding quickly to the rapidly evolving financial technology, or fintech, landscape. As new or emerging financial products, services or delivery channels may not meet all regulatory. The FCA's global sandbox is alive and kicking. The FCA-led Global Financial Innovation Network (GFIN) is now officially live, following its proposal last August. It aims to provide a more efficient way for innovative firms to interact with regulators as they look to scale globally - and it has hit the ground running with the launch of a.

Four years and counting: What we've learned from

FinTech: Innovation Of ces, Regulatory Sandboxes, and RegTech. Of ce of the UNSGSA and CCAF: New York, NY experiences. FinTech can also drive more Examples of Global Regulatory Sandbox. FInsight: Regulatory Sandboxes. 2018 saw the creation of a global sandbox - the Global Financial Innovation Network (GFIN) by the UK's Financial Conduct Authority, in collaboration with 11 financial regulators and related organisations. The US Bureau of Consumer Protection and Singapore's MAS are both members The benefits of a regulatory sandbox expanded to global cross-border compliance offers substantial opportunities. GFIN, with the backing of most innovative global regulatory agencies, is a development that bodes well for the future of international financial services Federal Economics Minister Peter Altmaier recently announced the winners of the Ideas competition for the Regulatory Sandboxes of Energiewende. In the 20 regulatory sandboxes throughout Germany, new hydrogen technologies will be researched on an industrial scale and in a real environment. Enertrag and Uniper, two members of the Global Alliance Powerfuels are involved in the implementation of.

Global: A Guide to Regulatory Fintech Sandboxes

  1. The FCA seeks industry feedback to capitalise on global regulatory sandbox trend. By Stuart Davis and Charlotte Collins. The regulatory sandbox was pioneered by the Financial Conduct Authority (FCA) back in November 2015 — a safe space in which businesses can test innovative products, services, business models, and delivery mechanisms.
  2. Global Regulatory Sandbox Review An Overview on the Impact, Challenges, and Benefits of Regulatory FinTech Sandboxes November 21, 2017 *This document does not constitute legal advice and should not be relied on by any person. You should consult legal counsel if you are considering pursuing initiatives in this area
  3. istering a regulatory sandbox

A Global Regulatory Sandbox — Solutions for Cross-Border

A purposive sampling procedure was applied to recruit participants associated with regulatory sandboxes in different locations (Patton, 1990).We aimed to sample (1) regulatory sandboxes that were operating and had at least one participant, whether currently enrolled or graduated, and (2) sandbox participants that were either engaged in a sandbox when we conducted the study or had been so in. Regulatory sandboxes typically involve temporary relaxations or adjustments of regulatory requirements to provide a safe space for startups or established companies to test new technology-based financial services in a live environment for a limited time, without having to undergo a full authorization and licensing process. 2 Some governments are implementing sandboxes as part of broader.

Challenge | Seeing Risk Differently

Regulatory sandboxes go global to spark innovation - Raconteu

  1. To do this, they have a variety of regulatory and supervisory initiatives taken such as regulatory sandboxes, innovation hubs, innovation incubators or accelerators, etc. e. The regulatory uncertainty FinTech could potentially hamper surrounding development. As a result, international standard setting bodies (BCBS, FSB, CPMI
  2. The Global Financial Innovation Network launches. On August 7, 2018, the United Kingdom's Financial Conduct Authority (FCA) announced the creation of the Global Financial Innovation Network (GFIN) in collaboration with 11 overseas financial regulators. The creation of GFIN emerged from the FCA's consultation in February 2018 proposing the idea of a global sandbox
  3. Appendix I: Regulatory sandboxes in financial services 17 Appendix II: digital solutions, now is a time to consider how to begin building new ways to share experience and manage the questions that emerge. Financial services regulators must re-consider existing ways of working and collaborating, sandbox into a global sandbox, or.
Regulatory Sandboxes For Cryptoassets, Cryptocurrencies

received at the Global Dialogue on Regulatory Approaches for experiences. Members of the AFI network are watching the global trends redefining the financial services landscape and highlighting the role of regulators to > running regulatory sandboxes and innovation hubs FinTech Global Regulatory Round-up - w/e 30 April 2021. Categories. This post is part of the following categories: FCA: Evaluation report on digital sandbox pilot. The FCA has published an evaluation report of the digital sandbox pilot. The report sets out the findings of the pilot, including how it accelerated the development of. Diversity of regulatory sandboxes revolves around several design components Objectives (promote innovation, competition, consumer convenience, inclusion) Eligibility (incumbents, fintechs, innovators) Safeguards & other restrictions (AML/CFT, disclosure, complaints handling, limited scale) Timing for applications & tests (cohorts, rolling These countries include big FinTech hubs like the UK, the US, and Singapore. In Thailand, the BOT established a regulatory sandbox in early 2017. This regulatory sandbox is open to any fresh, never-seen-before innovation with in-built safety measures that will benefit the people of Thailand. The innovations stay in the sandbox for 6 to 12 months November 2015 Regulatory sandbox Foreword 1 1 Overview 2 2 Why introduce a regulatory sandbox? 5 3 Implementing a regulatory sandbox 7 4 Recommendations for industry 12 5 Options that require legislative change 14 6 Next steps 16 Appendix 17 1 Main benefits, risks and limitations of FCA options for sandbox 17 Appendix 19 2 Main benefits, risks and limitations of option

BMWi - Federal Ministry for Economic Affairs and Energy

Regulatory Sandboxes and the Public Health by Jacob S

  1. Fifth, a regulatory sandbox, which standardizes the scope of testing and piloting, allows regulators to create a tightly defined safe space which exempts from specific regulatory requirements innovative firms that qualify. Global experience strongly suggests that most Fintech entrants in the MENA (Middle East and North Africa) region will.
  2. Global Fintech Regulatory Sandbox is Immense Undertaking The FCA says that during roughly two years of operating the U.K. fintech regulatory sandbox, it has realized that fintech startups may need to operate globally, even during their exploratory stages. Through the sandbox we've seen 30 applications from international firms and have gone.
  3. Today, global consultancy Deloitte and Innovate Finance, have published a report on the Fintech Sandbox. The report comes just as the FCA is considering the next steps for the sandbox model.
  4. This is a BETA experience. This vision followed the release of a consultation paper for a regulatory sandbox, similar to that formed by the Financial Conduct Authority in the UK, that asked.
  5. South Africa's Intergovernmental Fintech Working Group announced the first cohort for its regulatory sandbox which includes Bitcoin SV (BSV) fintech company, Centbee. It is the first BSV business to be included in the South African regulator's sandbox. The regulatory sandbox provides market innovators with an opportunity to test new products and services that push the boundaries of.
  6. 2. The Regulatory Sandbox: Principles and Objectives. 2.1 The Regulatory Sandbox. A regulatory sandbox (RS) usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain regulatory relaxations for the limited purpose of the testing
  7. Regulatory sandboxes can be created anywhere around the world (in the U.S., the states of Utah and Arizona have created their own regulatory platforms since 2018). In fact, more country and local governments are green-lighting experimental business ideas that give FinTech and RegTech companies a good idea of how their products and services.

The Use of Regulatory Sandboxes in Europe and Asia Know

Boston, March 26, 2020 - Many regulators have encouraged collaboration, creating regulatory sandboxes, tech sprints, and innovation hubs in an effort to bring regulators, fintech firms, established vendors, and FIs together. Testing, reviewing, and discussing proposed products and services encourage dialogue and cooperation. The regulator involvement allows both established vendors and. Regulatory Sandboxes and Innovation Testbeds Regardless of the approach, there is consensus that these must consider the effects of emerging technologies, the views of consumers and producers, and the impact of regulation on innovation.3 1.2. Regulatory Sandboxes and Innovation Testbed As noted above, the keen adoption of regulatory sandboxes has led to the concept of a global regulatory sandbox, first proposed in February 2018 by the UK's FCA, gaining traction. Terms of reference for GFIN were published on 31 January 2019, shortly after the Report, and the three stated functions cover both

The Use of Regulatory Sandboxes in Europe and Asia | Know

The global regulatory community continues to explore new approaches to supervising innovation. Among these, so‐called 'regulatory sandboxes' are proving to be particularly appealing to the financial sector as it seeks to promote technological and data‐driven innovation. These 'playgrounds' for innovation are also spreading to other regulated sectors such as telecommunications, data. A sandbox allows financial institutions (FI) to test their products, services or solutions in the market under a more relaxed regulatory environment but within a well-defined space and duration agreed with their regulators. In some jurisdictions, although sandboxes have not been established, regulators have nonetheless sought to put in place a. A common argument against regulatory sandboxes is that it could lead to catastrophic consequences similar to the Global Financial Crisis of 2007/2008 (GFC). One of the main reasons for the crash of 2008 was the use of innovative financial products like CDOs and Credit Default Swaps that went hand in hand with increasing complexity

A Global Regulatory Sandbox — Collaboration, Policies and

  1. Some legal service providers are avoiding time-limited regulatory sandboxes in favor of programs with an indefinite window. May 18, 2021 at 10:00 AM Victoria Hudgin
  2. A comparative analysis of the features of existing innovation hubs and regulatory sandboxes is set out in this report, drawing on information gathered by from competent authorities and the ESAs from financial institutions (both incumbents and new entrants) , other FinTech firms and technolog
  3. the United States' first regulatory sandbox program. This article identifies the need for regulatory sandboxes, describes sandboxes around the world, discusses the specific details of Arizona's sandbox, and explains how Arizona is leading the way for regulatory innovation in the United States. I
  4. Regulatory sandboxes benefit all the players in the ecosystem — legal services innovators, regulators, and the public. A sandbox is a safe playground in which to experiment, collect experiences, and play without having to face the strict rules of the real world, the authors write
  5. However, as our experience with mobile money demonstrates, sandboxes do not go far enough to create a truly enabling environment for fintech innovation. To do so public- sector stakeholders need to address broad business barriers and consider the entire package of incentives faced by fintech firms and investors
  6. REGULATORY SANDBOXES - A WAY TO TEST AND SHAPE REGULATION Published on January 29, 2017 January 29, 2017 • 18 Likes • 9 Comment

Regulatory Sandboxes: A Tool for Fostering Financial

A regulatory sandbox refers to a structured context for experimentation in a real-world environment without some of the usual rules applying. Regulatory sandboxes are not unique to the highly regulated energy sector but are also used in other sectors such as banking and healthcare. Two frontrunner countries with experiences in the. The UK's Financial Conduct Authority (FCA) is widely seen as a global sandbox pioneer, having launched a regulatory sandbox in 2016. The FCA is now in the throes of launching a new sandbox - a.

The Use of Regulatory Sandboxes in Europe and Asia Curated on Posted on September 11, 2018 by Stefaan Verhulst Claus Christensen at Regulation Aisa : Global attention to money-laundering, terrorism financing and financial criminal practices has grown exponentially in recent years Regulatory Sandboxes — a Global Stocktake Latham & Watkins LLP To view this article you need a PDF viewer such as Adobe Reader. If you can't read this PDF, you can view its text here The BIAC report examines how regulatory sandboxes can help both companies and regulators address these concerns. It draws on the experience of regulators, including the U.K. Information Commissioner's Office and Singapore's Personal Data Protection Commission — Infocomm Media Development Authority. It also reflects the findings of companies 2 We list regulatory sandboxes in the Appendix A only where we could verify the regulatory sandbox based on primary sources of law (i.e. legislation, financial regulation) accessible to us. Based on press releases, we estimate that at least another 15 regulatory sandboxes exist or are about to be set up at the time of writing.

Abstract. The 2008 global financial crisis represented a pivotal moment that separated prior phases of the development of financial technology and regulatory technology (RegTech) from the current paradigm.Today, FinTech has entered a phase of rapid development marked by the proliferation of startups and other new entrants, such as IT and ecommerce firms that have fragmented the financial. A FinTech sandbox or an application program interface (API) sandbox is an environment that innovators and testers can use to mimic the characteristics exhibited by the production environment on a real-time basis to help simulate responses from all the systems an application interfaces with. This enables banks and FinTech players to experiment.

EMA; Regulatory; Sandbox; Regulatory SandboxInonvate Finance_Membership and Regulatory Sandboxes_15Dec

Regulatory Sandboxes and the Public Health Petrie-Flom

  1. (FCA)'s regulatory sandbox. And as the record numbers in the latest cohort1 testify, firms' interest in applying to the sandbox shows no signs of abating. In fact, the FCA is now considering its next steps, which include leading the efforts to create a Global Financial Innovation Network2 and a global regulatory sandbox
  2. ology differs across Figure.7: Examples of Global Regulatory.
  3. Regulatory 'Sandboxes' in Asia Can Foster Fintech Innovation. A general view shows under-construction buildings among the city skyline in Jakarta on June 30, 2016. Indonesia launched a tax amnesty in a bid to give Southeast Asias top economy a multibillion-dollar boost, defying criticism the move will let evaders off the hook
  4. We strongly support sharing experiences and interpretation results between national 'regulatory sandboxes' as a way of harmonizing interpretations. A special role should be given to bodies like the IOSCO and the G-20 Financial Stability Board. Conversely, we do not see merits in establishing an EU sandbox due to the fact that national.
  5. g America's first subservient state government to do so. Yet as new regulatory experiments are only just beginning to prosper and grow, the UK's tried-and-tested Project Innovate sandbox continues to be a global leader
  6. The creation of GFIN builds on a building on a proposal to create a 'global sandbox'. Recognising the global nature of today's financial services the network will seek to provide a more efficient way for innovative firms to interact with regulators worldwide, helping them navigate between countries as they look to scale new ideas and.
Will Globally Popular Regulatory Sandboxes Ever Crack the

Running a Sandbox May Cost Over $1M, Survey Show

The rise of innovation hubs has been omnipresent with Europe being no exception: over the past several years, a number of countries, ranging from the UK to Cyprus, have launched such initiatives.Earlier today, the European Supervisory Authorities (ESAs) published a joint report on innovation facilitators (regulatory sandboxes and innovation hubs), with the document also setting forth the. 4.1 Global experiences on regulatory actions. The Watal Committee Report recommends that the regulator should enable a formal framework for a regulatory sandbox. A regulatory sandbox can be used to carve out a safe and conducive space to experiment with FinTech solutions, where the consequences of failure can be contained.. The European Commission has adopted a new Digital Finance Package to provide greater clarity for crypto-related companies. The commission and the European Blockchain Partnership will launch a blockchain-focused regulatory sandbox by 2022. The project aims to help regulators, companies and tech experts test innovative, blockchain solutions

The move comes a few months since the UK Financial Conduct Authority (FCA) announced its intention to promote fintech growth by offering a global regulatory sandbox National-level sandboxes provide a testing environment that is disconnected from the reality of international markets and could lead to regulatory fragmentation. While the EU has announced plans to publish a blueprint on the best practices for regulatory sandboxes, a better approach would see these sandboxes coordinated at the EU-level The UK's Financial Conduct Authority (FCA) is planning to create a global regulatory sandbox, The FCA has experience with sandboxes. Its domestic regulatory sandbox launched in 2016, and has.