UK digital securities sandbox project tabled in Parliament

THE regulations will take effect on Jan. 8, with THE Bank of England And THE UNITED KINGDOM. Financial To drive Authority Operating THE sandbox.

THE United Kingdom Financial Services And Markets Acts provisions on A digital securities Sandbox are program has come In force In January 2024 After be present has Parliament.

In A Dec. 18 publication, THE UNITED KINGDOM. government announcement THE Digital Securities Sandbox (DSS) regulations of THE 2023 Financial Services And Markets Act, which were laid Before Parliament, paving THE path For crypto companies has test some products And services In THE country. According to has THE government, THE regulations will take effect on Jan. 8, with THE Bank of England And THE UNITED KINGDOM. Financial To drive Authority Operating THE sandbox.

"THE DSS will allow companies And THE regulators has test THE to use of new technology through OUR financial markets”, said one note explaining THE Invoice. "In particular, This will involve essay THE to use of development technology (such as distributed register technology, Or In general technology that ease What are commonly referred has as 'digital assets') has perform THE activities of A central securities deposit (specifically notary, regulation And interview), And Operating A trade place. »

THE Sandbox regulations were part of THE Financial Services And Markets Act, sign In law In June After be introduced In 2022. THE Invoice included guidelines allowing crypto companies has function In THE UNITED KINGDOM. below A regulatory frame has promote innovative technologies while protect consumers.

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