UK watchdog welcomes first crypto startups to regulatory sandbox

posted 6 days ago
For the first time the UK's financial regulator, the Financial Conduct Authority, is directly recognizing the potential of blockchain-related startups by giving sandbox-access to 11 blockchain and distributed ledger technology-related companies.

The regulator said:

"We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks."

The FCA's regulatory sandbox was launched in June 2016 with the goal of allowing businesses to test "innovative products, services, business models and delivery mechanisms" in the market with FCA's temporary authorization.
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