The United Kingdom is working in order to start a new Digital Securities Sandbox as soon as in early 2024. According to Helen Boyd, the head of capital markets at the Financial Conduct Authority (FCA), the new Sanbdox will work to support firms and the development of digital securities.
UK Could Launch a Digital Securities Sandbox in 2024
The United Kingdom is expected to launch a new Sandbox for Digital Securities in early 2024. As per the official announcement, the goal is to work with different early-stage companies and create the necessary infrastructure within a “temporarily modified legislative and regulatory framework.”
On that matter, the announcement says:
“To set up financial market infrastructures that utilize digital asset technology, which can perform a number of activities in relation to digital securities under a temporarily modified legislative and regulatory framework.”
There is a large number of companies operating in the United Kingdom working with digital assets that could be interested in the new Sandbox. This could be a unique opportunity for developers and firms that are searching for a new and more comprehensive legal framework for their projects.
Around the world, multiple sandboxes have been put in place for digital assets. The intention is to attract companies that could be interested in testing these regulatory environments.