UK launches digital securities sandbox consultation

According to Jinse Finance, the Bank of England and the Financial Conduct Authority (FCA) have launched a consultation on the UK's five-year Digital Securities Sandbox (DSS). The initiative aims to promote innovative experiments in digital securities trading and subsequent transactions by temporarily relaxing the requirements of central securities depositories (CSDs) and conducting tokenization experiments on distributed ledger technology (DLT). Sheldon Mills, FCA's Director of Consumers and Competition, said: "The new Digital Securities Sandbox reshapes our regulatory approach by allowing companies to test regulatory changes in real-world situations before they become permanent. We hope this will be a more effective, collaborative, and faster way to deliver regulatory changes."