The UK Sets the Stage for Regulatory Sandbox Launch
This fall, the Financial Conduct Authority and the Bank of England are set to introduce the first group of projects to the Digital Securities Sandbox.
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This fall, the Financial Conduct Authority and the Bank of England are set to introduce the first group of projects to the Digital Securities Sandbox.
Eligibility is reserved for UK-registered projects capable of identifying specific legal barriers to their operations. Applications for participation will be accepted starting summer 2024.
It's crucial to note that this program specifically targets digital securities and does not include ETFs, other crypto derivatives, or unbacked crypto assets like Bitcoin and Ethereum.
The establishment of the Digital Securities Sandbox follows the implementation of the Financial Services and Markets Act 2023, aiming to test and refine the Central Securities Depositories Regulation (CSDR) bill, and explore blockchain technology's potential in trading conventional assets.
The estimated operational plan for the sandbox spans five years.
UK regulators are open to feedback on the initiative until May 29, 2024.
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