Abu Dhabi Regulators Seek Blockchain Startups for FinTech Sandbox
The independent regulatory authority of Abu Dhabi's newest financial free zone is seeking to promote the development of blockchain startups as part of a drive to create new efficiencies in the regional financial sector. The Financial Services Regulatory Authority (FSRA), one of three divisions of the Abu Dhabi Global Market (ADGM), has released a consultation paper in which it detailed its plans to create a sandbox environment for FinTech under which startups would be allowed to work under a flexible regulatory framework for up to two years. The FSRA's proposal would seek to limit startups....
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The Japanese government is reportedly plotting a pro-innovation sandbox that will encourage FinTech startups to enter the banking industry through regulator-free trials. According to a report by prominent Japanese publication Nikkei, the government looking to update its often-criticized FinTech regulations to make it easier for new innovative services to take shape in the country. According to the report, a pro-innovation government panel discussed a suggested proposal for a regulatory sandbox on Friday. The new framework will encourage corporations and startups alike to trial new services....
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