UK’s FCA launches a permanent digital sandbox

2023-7-20 17:11

Key takeaways

FCA’s digital sandbox is set to launch on August 1st.

The sandbox will serve as a testing environment for firms before rolling out their products.

UK’s financial regulator launches a digital sandbox

The U.K. Financial Conduct Authority (FCA) announced on Thursday, July 20th, that it will launch a digital sandbox.

The regulator said the permanent digital sandbox will be made available on August 1st, 2023, opening up the platform to an even broader range of innovative businesses, start-ups and data providers.

The platform will serve as a testing environment for firms to see how their products would perform at an early stage of development. 

This latest cryptocurrency news comes nearly three years after the regulator launched the sandbox on a trial basis. The FCA said the sandbox would also be available to data providers and would offer firms access to data sets, application program interfaces (API) and data security protection.

The FCA said;

“Until now, the platform has only been available temporarily to those participating in pilots and TechSprints.

The Digital Sandbox works to foster innovation and growth – more than half of the previous Small to Medium Enterprise participants in the pilots and TechSprints made positive developments, including launching new products, securing funding and partnerships, or receiving industry awards or recognitions.”

The digital sandbox provides data security protection

The regulatory agency pointed out that its digital sandbox has numerous features that would benefit developers. The sandbox’s integrated development environment allows experimentation while safeguarding the data assets on the platform. 

Furthermore, developers would have access to over 200 synthetic, public or anonymised data sets and over 1000 APIs to enable testing and validation of technology solutions.

The observation deck feature allows interested parties such as regulators, incumbents and others to observe in-flight testing at a technical level. Finally, the FCA believes that the sandbox could promote diversity of thought, share learnings and foster an ecosystem between teams, observers and mentors.

Former Economic Secretary John Glen rolled out the plans for the sandbox in 2022 with the aim of making the UK a cryptocurrency innovation hub. Previously, the sandbox was available only during pilots and TechSprints, which brought people from the financial industry together to address industry challenges.

The post UK’s FCA launches a permanent digital sandbox appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

The Sandbox (SAND) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.3972
Капитализация $0 Rank 99999
Цена в час новости $ 0.4403 (-100%)

sandbox digital fca launches firms environment testing

Источник: coinjournal.net

sandbox digital → Результатов: 76


SAND Has Just Been Added On Binance US – Will It Hit $1 In The Coming Days?

SAND is the native token of the Sandbox metaverse and is used to facilitate gameplay transactions such as purchasing digital land and interacting with user-generated content. Sandbox started out as collaboration between Pixowl and developer Onimatrix Binance listed SAND and is already available for trading on its platform The token is responding positively with this development, trading at $0.

2022-10-6 07:19


Mastercard позволит пользователям покупать NFT с помощью пластиковой карты в обход крипты

Один из крупнейших операторов платежных систем — Mastercard — работает над функцией покупки уникальных токенов NFT напрямую с карты. Для этого компания сотрудничает с NFT-платформами. В официальном блоге Mastercard перечислены площадки, с которыми уже налажены связи: The Sandbox, Nifty Gateway, Mintable, Candy Digital, Immutable X, Immutable X, а также поставщик инфраструктуры Web3 MoonPay.

2022-6-11 22:42


Mastercard пpиcтупилa к paбoтe нaд cepвиcoм для пoкупoк NFT

Koмпaния Mastercard oбъявилa o плaнax пo pacшиpeнию пpиcутcтвия нa pынкe нeвзaимoзaмeняeмыx тoкeнoв (NFT) зa cчёт иcпoльзoвaния плaтeжeй пo кapтaм. Для peaлизaции этoй зaдaчи, кaк cooбщил вицe-пpeзидeнт кoмпaнии Paдж Дxaмoдxapaн, кoмпaния coтpудничaeт c Immutable X, Candу Digital, The Sandbox, Mintable, Spring, Niftу Gatewaу и MoonPaу.

2022-6-10 15:25


AAVE, Sandbox, Niftygateway, Netflix and many others will join The Conference.NFT

On June 17, 2021, deep-dive into NFT (also known as a non-fungible token) with The Conference.NFT (online edition) to discover what’s going on in the digital world. Founders of industry-leading blockchain and NFT companies, famous NFT artists and collectors, developers of NFT marketplaces are willing to guide you through the current state of NFTs and […] The post AAVE, Sandbox, Niftygateway, Netflix and many others will join The Conference.NFT appeared first on NullTX.

2021-6-9 21:13


Фото:

Hawaii Set to Introduce Regulatory Sandbox for Cryptocurrency Companies

Financial regulators in Hawaii have introduced a regulatory sandbox for cryptocurrency businesses in the State as a way of developing clear-cut laws for the emerging digital economy. Two-Year Sandbox for Cryptocurrency Firms in Hawaii Hawaii’s governor’s office released a press statement on Tuesday (March 17, 2020) announcing the creation of the regulatory sandbox for cryptocurrencyRead MoreRead More.

2020-3-20 22:00


дальше еще 27 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

UK gambling industry escapes feared tax hikes in Autumn Budget

The UK gambling industry breathed a sigh of relief on October 30 when the Autumn Budget spared it from significant tax increases. Leading up to the announcement, concerns had mounted over potential tax raids that could have reshaped the sector, particularly for brick-and-mortar betting shops and online gambling operators. Concerns of tax hikes: two rumoured […]

Crypto exchange Bitget returns to UK with compliance-focused strategy

Cryptocurrency exchange Bitget has resumed its services in the United Kingdom after a six-month suspension, marking a return in line with the UK’s Financial Promotions Regime. Bitget’s renewed presence follows its May decision to halt onboarding new users due to updated regulations from the Financial Conduct Authority (FCA).

UK Regulator Justifies Tough Crypto Crackdown Amid Industry Pushback

The UK financial regulatory agency sticks to its decision to continue implementing stringent rules in the registration process of businesses involved in cryptocurrencies. The Financial Conduct Authority (FCA) asserted that UK’s tough regulations on crypto firms serve as a deterrence to prevent these companies from becoming conduits for any money laundering activities. Related Reading: Crypto […]

Man pleads guilty in UK’s first illegal crypto ATM conviction

Olumide Osunkoya pleaded guilty to FCA charges of illegal offer and use of cryptocurrency automated teller machines (ATMs). The 45-year old Osunkuya will be sentenced at a later date. Olumide Osunkoya has pleaded guilty to several charges involving the illegal operation of cryptocurrency automated teller machines in the UK.