The Monetary Authority of Singapore (“MAS”) has issued a consultation paper seeking feedback on the creation of it's 'express sandbox' to expedite the process of approvals of financial technology (FInTech) innovations to enter the MAS regulatory sandbox. Primary evaluation criteria assessed for that which is eligible (generally lower risk applications) include the level of technical innovation of the invention and the fitness and suitability of the key stakeholders of the applicant.
Introduces FinTech law to regulate "Fintech Institutions" which include alternative financing and investment activities such as crowdfunding, management of e-money,electronic payments and exchange of virtual assets or cryptocurrency. Option to establish a regulatory sandbox.
The Digital Financial Innovation in the Financial Services Sector regulation is an initiative to stimulate innovation in the digital financial services ecosystem such as through crowdfunding, settlements, investment management, insurance and other categories that fall under the purview of the regulator, the OJK, which covers registration of companies as digital financial innovation operators (inovasi keuangan digital or 'IKD') who become eligible to apply to the OJK regulatory sandbox.
Acting pursuant to Article 42(4)(1) of the Republic of Lithuania Law on the Bank of Lithuania (central bank), the Board of the Bank of Lithuania has approved Regulatory Sandbox Framework of the Bank of Lithuania (included within this document), entering in force on 15 October 2018.
Text of Australian Securities and Investments Commission (ASIC) Regulatory Guide 257 which explains the options FinTech businesses have for testing products and services without a license, the basis for which is sometimes referred to as Australia's FinTech Regulatory Sandbox.
Legal Disclaimer: The content appearing on this site is for general information purposes only and made available on an "AS-IS" basis. The law is subject to change and no representation or warranty is made with regard to accuracy or fitness for a particular purpose.