The Financial Times reported that the Bank of England (BoE) and the Financial Conduct Authority (FCA) will take a "proactive" and flexible regulatory approach through the Digital Securities Sandbox (DSS). Sashi Mills, Executive Director of the Bank of England, said this will enable regulatory agencies to adopt new approaches, maximize the potential benefits of innovation, and "manage financial stability risks". Through DLT, DSS aims to alleviate the inefficiency in the "post-trade environment", which can "drop the entry barriers for providers" while enhancing the flexibility of the financial market.

PANews reported on December 25 that, according to Finextra, the British government said it had received 19 letters of intent from existing financial market infrastructures, banks and new entrants to participate in the first test of its digital securities sandbox (DSS). DSS will enable companies to use Distributed Ledger technology to simulate the operations of central securities depositories and trading venues to house digital assets. The sandbox is seen as a way to test technology by making temporary changes to existing legislation, with the power to change the legislative framework as testing progresses. The UK Treasury said that after analysing the responses, the government intends to largely retain the approach initially outlined in the consultations. This will involve establishing a broad framework for DSS in legislation and giving regulators the appropriate flexibility to manage the requirements of participating entities. The Government intends to include all relevant assets (except Derivatives) currently under regulation into the DSS. Previously, the United Kingdom introduced a new rule that allows the country's financial regulator to operate a Token Securities Sandbox. This sandbox allows companies to test new solutions and products under supervision. The new rules will come into effect on January 8, when the UK's Financial Conduct Authority (FCA) and the Central Bank will be able to operate a digital securities sandbox (DSS). Enterprises will also test Distributed Ledger technology.

The UK government said it had received 19 expressions of interest from existing financial market infrastructures, banks and new entrants wishing to participate in the first test of its digital securities sandbox. DSS will enable companies to use Distributed Ledger technology to simulate the operations of central securities depositories and trading venues to house digital assets. The sandbox is seen as a way to test technology by making temporary changes to existing legislation, with the power to change the legislative framework as testing progresses. The UK Treasury said that after analysing the responses, the government intends to largely retain the approach initially outlined in the consultations. This will involve establishing a broad framework for DSS in legislation and giving regulators the appropriate flexibility to manage the requirements of participating entities. The Government intends to include all relevant assets (except Derivatives) currently under regulation into the DSS. （Finextra） Previously, the United Kingdom introduced a new regulation that allows the country's financial regulator to run a digital securities sandbox (DSS), allowing companies to test new solutions and products under regulatory supervision. The new regulations will come into effect on January 8, the Financial Conduct Authority (FCA) and Central Bank will be able to operate DSS, and businesses will also test Distributed Ledger technology, which supports cryptography to digitize or tokenize traditional securities.

The UK government said it had received 19 expressions of interest from existing financial market infrastructures, banks and new entrants wishing to participate in the first test of its digital securities sandbox, Gold Finance reported. DSS will enable companies to use Distributed Ledger technology to simulate the operations of central securities depositories and trading venues to house digital assets. The sandbox is seen as a way to test technology by making temporary changes to existing legislation, with the right to change the legislative framework as testing progresses. The UK Treasury said that after analysing the responses, the government intends to largely retain the approach initially outlined in the consultations. This will involve establishing a broad framework for DSS in legislation and giving regulators the appropriate flexibility to manage the requirements of participating entities. The Government intends to include all relevant assets (except Derivatives) currently under regulation into the DSS.

PANews reported on December 21 that the British government plans to continue to work with the financial services and technology industries to develop the necessary legislation to pave the way for digital securities, according to CoinDesk. The design of the planned digital securities sandbox (DSS), which would allow companies to test new products with real customers under regulatory supervision, was widely welcomed by respondents to a consultation report released in July, the UK Treasury said on Wednesday. Many respondents emphasized that the rules in the sandbox need to remain flexible in order to be able to adapt to new use cases. They are also asking for clearer provisions on tax treatment within the sandbox. According to draft legislation published on Monday, DSS will be regulated by the Bank of England and the Financial Conduct Regulation of the United Kingdom. It will allow businesses to test distributed ledger technology, which powers cryptography to digitize or tokenize traditional securities and represent them on the blockchain. The government said it plans to include assets such as debt, equities and money market instruments in the sandbox, as requested by respondents.

The UK government has said that its Digital Securities Sandbox (DSS) program has received an enthusiastic response, and it plans to continue to work with the financial services and technology industries to develop the necessary legislation to pave the way for digital securities to achieve its vision of becoming a hub for the crypto industry. "The Government will work with regulators and industry to identify any further legislative provisions that need to be included in the scope and, if necessary, can facilitate this by amending the DSS's further statutory instruments," the consultation paper said.

PANews reported on December 19 that according to CoinDesk, the United Kingdom has introduced a new rule that allows the country's financial regulator to run a tokenized securities sandbox. This sandbox allows companies to test new solutions and products under supervision. The new rules will come into effect on 8 January, when the UK's Financial Conduct Authority (FCA) and the Bank of England will be able to operate the Digital Securities Sandbox (DSS). Enterprises will also be testing distributed ledger technology.

The UK has introduced a new regulation that allows the country's financial regulator to run a digital securities sandbox (DSS) that allows companies to test new solutions and products under regulatory oversight, Golden Finance reported. The new regulations will come into effect on January 8, the Financial Conduct Authority (FCA) and the Bank of England will be able to operate DSS, and businesses will also test distributed ledger technology, which technology supports cryptography to digitize or tokenize traditional securities.

PANews reported on November 23 that the mini-budget announced by the British Treasury on Wednesday includes a move to promote the growth of the digital asset industry, according to The Block. The UK government will implement the Digital Securities Sandbox (DSS) through legislation, which aims to promote the adoption of digital assets in the financial markets. "The government will develop administrative regulations to implement the Digital Securities Sandbox, honour the Edinburgh Reform Announcement, and implement the Financial Market Infrastructure Sandbox in 2023," the budget statement said. The DSS program is expected to begin in the first quarter of 2024. The UK government also plans to publish a response to the DSS consultation launched in July.

The mini-budget released by the UK Treasury on Wednesday includes a provision to promote the growth of the digital asset industry, and the UK government will pass legislation to implement a digital securities sandbox (DSS) aimed at promoting the adoption of digital assets in the financial market. "The government will develop statutory instruments to implement the Digital Securities Sandbox, honour the Edinburgh Reform Proclamation, and implement the Financial Market Infrastructure Sandbox in 2023," the budget statement said. ” The DSS program is expected to begin in the first quarter of 2024. The UK government also plans to publish a response to the DSS consultation launched in July.

Golden Finance reports that the UK’s Financial Conduct Authority (FCA) is about to launch a second cryptocurrency sandbox, which will include established rules for managing digital securities. Helen Boyd, head of capital markets at the FCA, said that the UK Treasury will launch a digital securities sandbox in the first quarter of 2024. Furthermore, Boyd revealed that the upcoming Digital Securities Sandbox (DSS) is different from existing digital sandboxes in that it will be able to test and adopt digital securities across the financial market. According to the announcement, it will allow companies to build financial market infrastructure using digital asset technology. Additionally, these financial market infrastructures can perform digital securities-related activities. However, the resulting financial products will be subject to temporarily modified legislative and regulatory frameworks. Additionally, Boyd further explained the future of the FCA as the UK’s primary crypto-asset regulator. She said the agency is awaiting a resolution from the Treasury Department on the share of power it has over the digital asset industry.

PANews, July 11, the UK Treasury today released a consultation paper on the Digital Securities Sandbox (DSS), which will be the first financial market infrastructure sandbox provided under the powers conferred by the Financial Services and Markets Act 2023. The document introduces the main features, policy and legal issues of the Digital Securities Sandbox. The DSS will facilitate the testing and adoption of digital securities in financial markets. Through the DSS, the industry will be able to build a financial market infrastructure utilizing digital asset technology that can carry out many activities related to digital securities under a temporarily modified legislative and regulatory framework. The deadline for this consultation is 11:59 on August 22, 2023. The consultation invites industry feedback on the DSS approach and seeks feedback on a number of further policy and legal issues. As reported last week, the EU metaverse strategy proposes regulatory sandboxes and new global governance.

Jinse Finance reported that the British government has launched consultations on the introduction of the Digital Securities Sandbox (DSS) to test innovative new market infrastructure for digital assets. DSS will enable companies to use distributed ledger technology to simulate the operation of central securities depositories and trading venues to accommodate digital assets. The sandbox is seen as a way to test technologies by making temporary changes to existing legislation, with the power to alter the legislative framework as testing progresses. Consultation closes on 22 August 2023 at 11:59pm. 


Odaily Planet Daily News Web3 data cloud service provider Oort cooperates with traditional IT giant Dell Technologies to join its new global customer loyalty program. The program is aimed at Dell's more than ten million enterprise customers around the world. Oort's flagship product, Oort DSS Business Edition, will provide these loyal enterprise users with one-stop decentralized data storage services. As the first and only decentralized project to enter the Dell loyalty program, Oort will bridge the gap between Web2 users and Web3 data services, while helping enterprise users achieve significant cost savings. The program has been launched in Canada today, and is expected to be launched in the United States at the end of the month, and plans to further expand to a global scale in the future. Through this partnership, Dell and Oort are jointly ushering in a new era of Web3 data storage. (PRNewswire)