On September 30, 2024, the UK Digital Securities Sandbox was officially declared open. The announcement was made by the Bank of England (BoE) and the UK Financial Conduct Authority (FCA), following the consultation earlier this year on the operation of the Digital Securities Sandbox (DSS) and the supervision of entities in it.
The news is positive: there are a number of industry wins following concerns raised during the consultation process. However, there are still a few areas where prospective DSS entrants may be disappointed – in particular, the regulators have maintained the position that UK branches are not eligible to enter the DSS.
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